Kontoor Brands price target raised to $47 from $41 at Barclays

Barclays analyst Paul Kearney raised the firm’s price target on Kontoor Brands to $47 from $41 and keeps an Equal Weight rating on the shares. The company’s Q2 report demonstrated significant outperformance on U.S. denim relative to its largest competitor despite softness in seasonal categories, and provides some confidence that the U.S. wholesale channel is beginning to normalize, the analyst tells investors in a research note.