Is Crocs Stock a Buy After a Recent Analyst Upgrade?

Crocs received an analyst upgrade from Baird, with Jonathan Komp raising his rating from 'neutral' to 'outperform' and increasing the price target from $115 to $150. The analyst is confident in the Crocs brand's recovery in North America and HeyDude's progress after inventory cleanup efforts. The stock is up nearly 50% this year and trades at an attractive forward P/E of 9x, though HeyDude continues to struggle with declining revenue.