Wolverine World Wide downgraded to Neutral from Buy at Seaport Research

Seaport Research analyst www.tipranks.com/experts/analysts/mitch-kummetz’ target= ‘_blank’; rel=’nofollow’>Mitch Kummetz downgraded Wolverine World Wide to Neutral from Buy without a price target. Despite cutting fiscal 2023 guidance, Wolverine is “doubling down” on 12% operating margin for fiscal 2024, the analyst tells investors in a research note. The firm is now “less confident” in the company’s ability to achieve that target. It has “lots of questions,” especially regarding the 2024 sales outlook and the company’s ability to manage expenses against a potential shortfall.