Telsey Advisory raised the firm’s price target on Birkenstock to $70 from $63 and keeps an Outperform rating on the shares. Ahead of the company’s Q3 results, the firm is raising its sales estimate on the resilience the firm has seen from strong brands this earnings seasons thus far, the analyst tells investors. With a loyal customer base and opportunities for channel and category growth, the firm continues to believe the company can grow the addressable market and drive average selling prices.
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