KeyBanc Upgrades Wolverine World Wide (WWW) to Overweight

KeyBanc analyst Ashley Owens upgraded Wolverine World Wide (NYSE: WWW) from Sector Weight to Overweight with a price target of $20.00.

The analyst comments: "We think the better than expected results serve as another proof point of WWW's pathway to growth and move to Overweight. WWW posted results above guidance and increased the midpoint of FY revenue and earnings guide. WWW noted broad-based contributions across portfolio, meaningful GM expansion, and streamlined cost structure in the quarter. We are encouraged by stabilization progress and stronger brand positioning/marketplace execution signaling toward inflection. We think the quick actions taken by management have set the foundation to return to growth in 4Q, where the guide implies an inflection at midpoint, and look into FY25 optimistic."

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 $12.88 yesterday.

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