Wolverine World Wide (WWW) PT Raised to $18 at Williams Trading

Williams Trading analyst Sam Poser raised the price target on Wolverine World Wide (NYSE: WWW) to $18.00 (from $17.00) while maintaining a Hold rating.

The analyst comments "Raising estimates, and increasing PT from $17 to $18. We remain skeptical that FY26 Saucony revenue will generate mid-teens reported revenue growth (up low-to-mid teens FX Neutral). The FY26 guidance anticipated $50M in tariff headwinds, with any rate reduction impacting 2H26. We believe that the current section 122 tariffs of 10%, which replaced the IEEPA tariff of 18%-19%, on goods imported from Asia into the U.S, will be in place through late July 2026, and then tariffs will gravitate back towards IEEPA levels under section 301 of the Trade Act of 1974. Our increased estimates reflect a 46% gross margin, an increase of 30bps from our prior estimate. Our revised gross margin estimate would have been slightly higher if not for freight surges that are beginning to emerge resulting from increased oil prices. 1Q26 earnings, which will be announced on Thursday, May 14, 2026 BMO, will likely be in line with guidance and the consensus estimates. Guidance calls for revenue growth of 8.1% (CC: +5.1%) at the midpoint. FY26 reported revenue is expected to increase 5.1% (CC: +~4.1%) at its midpoint. 1Q26 is expected benefit from FX tailwinds more than any other quarter. Also, we believe that the 1Q26 will represent the pinnacle of Saucony revenue growth."

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