Crocs (CROX) shares rose Monday following an upgrade from investment firm Baird. Analyst Jonathan Komp raised the stock's rating to Outperform from Neutral. Komp increased the price target to $150 from $115.
Baird cited a more favorable risk-reward profile for the footwear company. The firm expressed confidence in sustainable growth for the North America division and HeyDude brand. Analysts anticipate a return to low-single-digit revenue growth by the second half of 2026.
Tight cost controls and potential for healthy cash returns support an upward bias to earnings estimates. Crocs shares gained over 3% in early trading following the announcement.