Seaport Research analyst Mitch Kummetz raised the firm’s price target on Wolverine World Wide to $16 from $15 and keeps a Buy rating on the shares. The company recently hosted a Group Call with the company’s CEO, where they discussed the underlying macro environment, Q1 beat, FY24 guidance, and the prospects of Saucony and Merrell. While the firm notes it is “hard to get too excited” about the company’s FY24 guidance, Wolverine World Wide is chasing demand, which could result in some upside, and the firm is more optimistic about FY25.
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