【how many lifeboats were not launched on the titanic】Crocs, Shoe Carnival Surge Higher After Susquehanna Upgrades

来源：animals that eat hosta plants 编辑：Focus 时间：2024-09-29 12:20:33

Thehow many lifeboats were not launched on the titanic future looks bright for

Shoe Carnival, Inc.

(NASDAQ:

【how many lifeboats were not launched on the titanic】Crocs, Shoe Carnival Surge Higher After Susquehanna Upgrades

SCVL

【how many lifeboats were not launched on the titanic】Crocs, Shoe Carnival Surge Higher After Susquehanna Upgrades

) and

Crocs, Inc.

(NASDAQ:

CROX

) heading into 2019, according to Susquehanna.

The Analyst

Analyst Sam Poser upgraded Shoe Carnival from Neutral to Positive with a $42 price target.

Poser upgraded Crocs from Neutral to Positive with a price target lifted from $25 to $31.

Analyst: Shoe Carnival Pullback Unwarranted

With significant improvements in customer engagement and merchandising becoming evident, Poser said to buy

Shoe Carnival

Shoe Carnival’s recent double-digit pullback is unwarranted, and the correct levels of more relevant assortments should give the company's results ongoing momentum, the analyst said in the Wednesday upgrade note.

Strong performance

from Shoe Carnival's largest vendor,

Nike Inc

(NYSE:

NKE

), also bodes well for the company, Poser said.

“Given the strong results and improved, yet conservative outlook, we had not anticipated an opportunity to upgrade the company in the near term."

Shoe Carnival shares were up 4.27 percent at $34.94 at the time of publication Wednesday.

Bullish On Crocs

Crocs is a buy following the recent repurchase and conversion of

Blackstone Group LP

(NYSE:

)'s preferred stock position in the company, Poser said.

“The action removes a significant financial overhang from the company’s capital structure/P&L and shifts more control of CROX business into the hands of existing and potential shareholders,” the analyst said.

Susquehanna sees Crocs’ business continuing to accelerate as products improve and the brand gains mindshare through compelling collaborations.

In December, Crocs' second collaboration with hip-hop star Post Malone sold out in seconds and a created a lot buzz in the sneaker and social media worlds.

Crocs shares were up 5.16 percent at $27.32 at the time of publication.

【how many lifeboats were not launched on the titanic】Crocs, Shoe Carnival Surge Higher After Susquehanna Upgrades

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