Sterne Agee Cuts Wolverine World Wide (WWW) to Underperform Following Q1 Results

Sterne Agee's Sam Poser downgraded shares of Wolverine World Wide (NYSE: WWW) Tuesday morning following Q1 results and raised FY12 guidance from the company on Monday.

Poser now rates the stock an Underperform, down from Neutral previously. The analyst set a new $33 price target.

The stock fell more than 3 percent on Monday and is lower once again Tuesday. Shares last traded at $36.44, down about 0.6 percent for the session. Poser's new target implies potential downside of about 9 percent from where the stock is currently trading.

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

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