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
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
As a result the target price of 135 € shows a slightly positive potential of 11.35% compared to the current price of 121.24 € for Crocs Inc..
