Wolverine World Wide price target lowered to $11 from $18 at Stifel

Stifel analyst www.tipranks.com/experts/analysts/jim-duffy’ target= ‘_blank’; rel=’nofollow’>Jim Duffy lowered the firm’s price target on Wolverine World Wide to $11 from $18 and keeps a Hold rating on the shares. Given new leadership and a “sharply lower” FY23 outlook, the degree of difficulty on the turnaround has increased, the analyst tells investors. Given aggressive clearance efforts in 2023, the firm expects revenue to decline on a year-over-year basis through the first half before inflecting to “only modest growth,” the analyst added.