Kontoor Brands price target lowered to $69 from $93 at Barclays

Barclays lowered the firm’s price target on Kontoor Brands (KTB) to $69 from $93 and keeps an Overweight rating on the shares. The firm says that while it views the U.S. consumer as resilient, it is cautious on the near term on specialty retail names, believing market volatility and uncertain policy are “rattling” consumer and business confidence. Apparel is one of the most affected sectors from changes in tariff policy, as the majority of the clothes we wear in the U.S. are made somewhere else, and there is no easy alternative to that without consistency in long-term policy, the analyst tells investors in a research note. Barclays reduced estimates across the sector.