Birkenstock price target raised to $63 from $56 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Birkenstock to $63 from $56 and keeps an Outperform rating on the shares. The company’s Q2 results included an across-the-board beat leading to a raised annual outlook despite a choppy global macro environment and inflationary pressures, the analyst tells investors. Telsey believes the company can continue to grow its addressable market and DTC expansion can foster a strong relationship with the consumer.