Kontoor Brands price target raised to $85 from $83 at UBS

UBS raised the firm’s price target on Kontoor Brands to $85 from $83 and keeps a Buy rating on the shares ahead of the Q4 earnings report. UBS Evidence Lab’s Amazon Best Sellers indicates Kontoor’s brands remain among the top US jeans brands, the analyst tells investors in a research note. The firm expects FY24 EPS guidance in the $5.00-$5.20 range, and thinks a Q4 EPS beat and positive Q1-to-date commentary ahead of expectations could modestly boost sentiment as this skews negative.