Wolverine World Wide price target raised to $14 from $11 at Stifel

Stifel raised the firm’s price target on Wolverine World Wide to $14 from $11 and keeps a Hold rating on the shares after the company reported quarterly results. While year-over-year declines through the first half of the year remain striking, year-to-date execution of a deliberate transformation phase features a smaller but higher quality base of revenue, cost eliminations, brand divestitures, and business model simplifications shoring up profitability, the analyst tells investors in a research note. The firm has increased confidence looking to 2025 in an inflection to growth.