Wolverine World Wide price target raised to $14 from $10 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Wolverine World Wide to $14 from $10 and keeps a Market Perform rating on the shares. The company’s Q1 results were “better across the board,” with revenue higher than prior guidance, the analyst tells investors. The firm is encouraged by company’s ability to maintain its annual outlook, but double-digit declines across its major brands in the quarter indicate there is still work that needs to be done, the analyst tells investors.