Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Kontoor Brands (KTB) to $95 from $100 and keeps an Overweight rating on the shares. While the group has rallied 10% in recent months, Kontoor has underperformed by 40%, the firm notes. Conversations with Bears suggest Helly Hansen was a bad investment/ex-growth and a problem. Wells strongly disagrees. The firm remains very bullish.
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