Outlook Steadily Improving For Crocs, Inc.

Sterne Agee has published a research report on Crocs, Inc. (NYSE: CROX) after the company held a conference and pre-presentation at a trade show, reporting that outlook is steadily improving.

In the report, Sterne Agee writes "CROX CEO presented a more optimistic view of the wholesale business at ICR 10 days ago. He said that the wholesale business would continue to represent ~63% of total sales and the direct to consumer (DTC) would continue to track at ~37% of total sales. Prior to this presentation, the company expected the DTC business to grow at a faster rate than wholesale, and evolve over time to 45% of the total. CROX continues to plan for 25% expansion in its store base to 500 and for growth in its ecommerce business as well, so we are confident that the presentation reflected backlog trends that are running well above the +37% level cited on the 3Q10 earnings call."

Sterne Agee maintains its Buy rating and has raised the price target from $19 to $20.

Crocs, Inc. closed yesterday at $15.45.