Kontoor Brands price target lowered to $83 from $93 at Stifel

Stifel analyst Jim Duffy lowered the firm’s price target on Kontoor Brands (KTB) to $83 from $93 and keeps a Hold rating on the shares following “inline” Q4 results. The firm noted that Lee failed to inflect to growth in the second half as originally guided, Project Jeanius benefits are taking longer than expected to materialize and point of sales inflected negative in February. Stifel added that guidance does not incorporate tariffs or the accretive contribution of Helly Hansen.