Rocky Brands price target raised to $24 from $19 at B. Riley

B. Riley analyst Jeff Lick raised the firm’s price target on Rocky Brands to $24 from $19 and keeps a Neutral rating on the shares ahead of the Q4 earnings report on February 28. The firm expects Q4 results to meet or exceed expectations and believes guidance for FY24 will likely be below current estimates, the analyst tells investors in a research note. Consensus estimates don’t appear to contemplate $25M of revenue headwinds from 2023 that won’t be repeat in 2024, the firm adds.