Stifel analyst Jim Duffy raised the firm’s price target on Kontoor Brands to $70 from $60 and keeps a Buy rating on the shares. For Sports and Lifestyle Brand owners, the “still sound” U.S. consumer balance sheets and wage growth that can outpace inflation support growth and margin expansion opportunities for companies with brand-specific drivers, the analyst tells investors in a 2024 sector preview note.
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- Kontoor Brands upgraded to Overweight from Equal Weight at Barclays
- Kontoor Brands lowers 2023 adjusted EPS view to $4.35 from $4.55-$4.75
- Kontoor Brands reports Q3 adjusted EPS $1.22, consensus $1.18
