JPMorgan recommends using the recent weakness in shares of Birkenstock as a buying opportunity. The firm keeps an Overweight rating on the name with an $81 price target after meeting with management. JPMorgan increased its Q4 sales estimate to 18% revenue growth, above the Street at 17% & management’s implied 15%-16% guidance, supported by a “very strong” back-to-school in the U.S. and sequential direct-to-consumer improvement in Europe following unfavorable June weather to close Q3.
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Read More on BIRK:
- Birkenstock management to meet with Telsey Advisory
- Birkenstock (BIRK) Has Made Impressive Strides but Fell Short of Expectations
- Birkenstock price target lowered to $70 from $77 at Evercore ISI
- Jefferies reiterates Buy on Birkenstock following pullback, solid quarter
- Birkenstock price target lowered to $63 from $70 at Stifel