Wolverine World Wide downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst www.tipranks.com/analysts/abbie-zvejnieks’ target= ‘_blank’; rel=’nofollow’>Abbie Zvejnieks downgraded Wolverine World Wide (WWW) to Neutral from Overweight with a price target of $13, down from $23, as part of a broader research note into Lifestyle Brands and Footwear. While the group offers margin expansion opportunities as elevated freight and logistics expenses are lapped, it will take at least through the first have of 2023 to get to clean inventory levels, the analyst tells investors in a research note, also noting that promotional activity will remain a margin headwind. Zvejnieks adds that her top picks in the space are Deckers (DECK), Crocs (CROX), and On Holding (ONON).