Why Crocs, Under Armour, and DDR Jumped Today

The stock market soared on Friday, buoyed by optimism about the prospects for a compromise tax reform package getting through Congress as early as next week and going to the White House for expected enactment for 2018. It appeared that last-minute potential Republican holdouts had their needs met through tweaks to the final proposal, and investors focused their attention on stocks that could benefit the most from lower corporate taxes and the ability to repatriate overseas profits at dramatically reduced tax rates. In addition, encouraging company-specific news helped lift some stocks far higher than the roughly 1% gains posted by broad market benchmarks. Crocs (NASDAQ: CROX), Under Armour (NYSE: UA) (NYSE: UAA), and DDR (NYSE: DDR) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Crocs leapt higher by more than 14% after getting positive comments from stock analysts. Favorable views for the footwear specialist came from analysts at Stifel, which upgraded the stock from hold to buy and boosted their price target for the shares by 75% to $14 per share. Crocs expects to close stores in the first half of 2018, but analysts believe that better brand awareness will lead to revenue growth that will offset any closure-related pressure. With the opportunity to grow outside the U.S. in key areas like China and Europe, Crocs could keep up the momentum that has helped its stock double since earlier this year.

Image source: Crocs.

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Source: Fool.com