Yared: New price target is $100
The new products will match the current margin structure, which is important. I estimate Crocs will earn $2.00 per share on revenues of $835 million for 2007, followed by revenues of $1.12 billion and earnings per share of $2.60 for 2008. I will admit right now, these numbers are conservative, very conservative. Many investors and analysts are working the Crocs model to figure a preliminary 2009 estimate. I believe Crocs can hit revenues of $1.55 billion and earnings per share of $3.40.With this incredible growth in front of Crocs, coupled with a solid new product line and its existing product line selling magnificently, my 12-month price target is $100. The company can easily support a 30 price earnings multiple of 2009's $3.40 earnings.
Mr. Yared has not been wrong about CROX and he isn't wrong now. I'm looking to add more shares before earnings.
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