Why Crocs Stock Soared on Friday
Shares of Crocs (NASDAQ: CROX) charged sharply higher on Friday, surging as much as 11.3%. By the end of the trading day, the stock was still up 11.1%.
The footwear maker continued to ride the wave of enthusiasm in the wake of its record-setting third-quarter financial report, but also got a boost courtesy of bullish comments made by a Wall Street analyst.
Baird analyst Jonathan Komp raised his price target on Crocs to $100 from $95, while simultaneously maintaining his outperform (buy) rating on the shares. This is a rare move given the macroeconomic uncertainty and represents potential upside for investors of roughly 31% compared to the stock's closing price on Thursday.
Source Fool.com
