Ike Boruchow, an analyst from Wells Fargo, reiterated the Buy rating on Kontoor Brands (KTB – Research Report). The associated price target remains the same with $85.00.
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Ike Boruchow has given his Buy rating due to a combination of factors that suggest a positive outlook for Kontoor Brands. The company’s first-quarter results showed stability with trends beginning to improve after a challenging start to the year. This stabilization is expected to continue, supported by positive point-of-sale trends and the potential for earnings per share to exceed $6.00 in the next fiscal year.
Additionally, the acquisition of Helly Hansen is anticipated to enhance Kontoor Brands’ financial performance, with expected revenue contributions and operational synergies that could further boost earnings. Despite the challenges posed by tariffs, the company has implemented pricing strategies and supplier agreements to mitigate these impacts. Overall, these strategic moves and financial projections underpin Boruchow’s optimistic outlook, making Kontoor Brands a top pick in the sector.
In another report released today, Barclays also maintained a Buy rating on the stock with a $75.00 price target.