DA Davidson Starts Wolverine World Wide (WWW) at Neutral; Impressive Roots, But Growth Taking Breather

DA Davidson initiates coverage on Wolverine World Wide (NYSE: WWW) with a Neutral. PT $42.00.

Analyst, Andrew Burns, said, "We are positive on Wolverine’s unique brand portfolio and long-term revenue and earnings growth prospects. However, we view current valuation as fair, and see insufficient upside to near-term earnings growth to recommend shares."

"After two strong years of double-digit revenue growth, fundamentals are expected to take a breather in 1H12...We see high single digit revenue and low- to mid-teens earnings growth potential through 2015...We are introducing estimates for 1Q12 revenue and EPS of $332.8 million and $0.56. Our 2012 and 2013 estimates are $1.502 billion and $2.65 and $1.621 billion and $3.00, respectively."


For an analyst ratings summary and ratings history on Wolverine World Wide click here. For more ratings news on Wolverine World Wide click here.

Shares of Wolverine World Wide closed at $40.20 yesterday.

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