Telsey Advisory made no change to the firm’s Outperform rating or $56 price target on Birkenstock. The company reported an “impressive” first quarter as a public company, with fiscal fourth quarter results coming in ahead of consensus, supporting FY24 annual guidance that was also ahead of the prior outlook, the analyst tells investors in a research note. The firm believes Birkenstock has a long, storied history as an established high-end lifestyle brand in the global footwear space.
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