Kontoor Brands price target raised to $59 from $48 at Wells Fargo

Wells Fargo raised the firm’s price target on Kontoor Brands to $59 from $48 and keeps an Overweight rating on the shares. With sentiment low heading into the print, Kontoor delivered an upside surprise, beating Q4 expectations and guiding full year 2023 revenue/EPS above the Street, the firm says.