Wolverine World Wide (WWW) PT Raised to $22 at UBS

UBS analyst Mauricio Serna raised the price target on Wolverine World Wide (NYSE: WWW) to $22.00 (from $18.00) while maintaining a Buy rating.

The analyst commented, "We believe Wolverine's ongoing investments in Active brands should drive sustainable sales and EPS growth. WWW's Q1 EPS beat and Saucony's outstanding +30% y/y sales growth reinforce our view its turnaround playbook is working. While tariffs likely prevail a headwind, we have high conviction WWW's mitigation initiatives and focus on full-price sales should drive stronger profitability over time. We thus forecast an 18% 5-yr. EPS CAGR and believe this growth potential is underappreciated at a 12x FY2 P/E. We expect sales and EPS beats over the NTM to drive WWW's stock towards our $22 PT."

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