Birkenstock price target raised to $63 from $54 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the firm’s price target on Birkenstock to $63 from $54 and keeps an Outperform rating on the shares. Since Birkenstock’s IPO the firm has waited for a tangible increase to fiscal year guidance to “prove out many of the key IPO themes about the company under-supplying the marketplace for several years,” says the analyst, who is “encouraged” by the FY24 guidance increase.