Forget Crocs: 1 Spectacular Footwear Stock to Buy With 55% Upside, According to 1 Wall Street Analyst
One of the byproducts of the COVID-19 pandemic is that work-from-home employment structures became more normalized. As a result, people have transformed parts of their homes to mimic more of an office-like environment. This trend led to a surge in e-commerce activity as consumers worldwide were making out-of-the ordinary big-ticket purchases.
Yet another area that seems to have experienced a boom as a result of the pandemic is casual apparel. In particular, consumers have taken a liking to more comfortable, less stylish footwear. One shoe company that has benefited is -- most famous for its rubber clogs that can be worn both indoors and outdoors. Since March 2020, shares of Crocs are up 432%.
While Crocs has made many investors a pretty penny, it's not the only footwear brand that has seen an uptick in popularity. One stock that I have my eye on right now is Birkenstock (NYSE: BIRK), and I'm not the only one. UBS analyst Jay Sole recently upgraded his price target on Birkenstock to $85 -- implying roughly 55% upside as of market close on July 12.
Source Fool.com
Crocs Inc. Stock
With 28 Buy predictions and not a single Sell prediction Crocs Inc. is an absolute favorite of our community.
With a target price of 142 € there is a slightly positive potential of 11.81% for Crocs Inc. compared to the current price of 127.0 €.
