Stifel: The acquisition of HeyDude is good for Crocs and maintains a "hold" rating

$Crocs(CROX.US)$ After Crocs (CROX.US) announced the acquisition of HeyDude for US$2.5 billion, Stifel analyst Jim Duffy said that the transaction provided the company with an additional franchise in the fast-growing casual shoe business and helped it achieve the Diversified development of products other than footwear. Duffy believes that the acquisition has positive significance for the company's development strategy and the promotion of platform growth and profit margin synergy. He estimates that the transaction "slightly diluted EV/EBITDA, but will increase business growth, profit margins and earnings." He maintains a "hold" rating on Crocs stock and a target price of $157 per share.

Article excerpted from the US Stock Research Agency