UPDATE: Sterne Agee Upgrades Wolverine World Wide (WWW) to Neutral

(Updated - February 18, 2015 8:55 AM EST)

Sterne Agee upgraded Wolverine World Wide (NYSE: WWW) from Underperform to Neutral. Analyst Sam Poser now thinks the bar is "set low enough."

"Upgrading to Neutral from Underperform as revised guidance seems reasonable," said Poser. "Management has had a history of providing aggressive and overly optimistic guidance. A history of unrealistic guidance was a significant consideration for our negative stance on the stock. Current guidance is not bulletproof but seems realistic. As such, we are upgrading Wolverine. Current valuation is still rich. Increased marketing is likely a good move, but the results will not be seen until early 2016. WWW continues to manage its balance sheet and cash well. Lowering our FY15/16 EPS estimates to $1.55/$1.73 from $1.60/$1.77," said Poser.

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 $28.23 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• Boeing (BA) PT Lowered to $240 at Stifel
• Equity Residential (EQR) PT Raised to $70 at Evercore ISI