Bank of America recommends purchasing this footwear company’s stock ahead of earnings announcement.

Are you looking for a winning investment opportunity in the footwear industry? Look no further than Crocs, the popular footwear company that is gaining strong momentum. According to Bank of America analyst Christopher Nardone, Crocs is a solid play for investors ahead of its upcoming earnings report next week.

Nardone reiterated his buy rating and set a $150 price target for the stock, suggesting that shares could potentially gain 21.4% from Thursday’s closing price. With the stock already up more than 32% year-to-date, Crocs is proving to be a standout performer in a price-sensitive consumer environment.

One of the key factors driving Crocs’ success is its international business, which accounts for 40% of total sales. Nardone expects the international segment to be the driver of outsized growth for both the quarter and the full year, particularly in markets like China and India. With a forecasted sales growth of 8% in the first quarter and 6% for the full year, Crocs is positioned for continued success on a global scale.

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Additionally, Crocs’ casual footwear business HeyDude is showing signs of a potential turnaround. With Terence Reilly appointed as the president of the brand, investors are optimistic about the brand’s future performance. Reilly’s prior experience leading marketing at Crocs and as the former president of Stanley bodes well for HeyDude’s success in the medium term.

When it comes to Crocs’ upcoming earnings report, investors can also take comfort in the positive wholesale results from peer footwear companies like Skechers and Steve Madden. These results indicate a positive trend in the footwear industry as a whole, further supporting Crocs’ growth potential.

As we look ahead to Crocs’ earnings report next week, keep an eye out for signs of improvement in both direct-to-consumer sales and margins for HeyDude. A strong performance in these areas could further bolster Crocs’ position as a top investment opportunity in the footwear market.

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Stay tuned to Extreme Investor Network for more insights and analysis on top investment opportunities like Crocs. With our expert analysis and unique perspectives, we’ll help you stay ahead of the curve and make informed investment decisions.

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