Wolverine World Wide price target lowered to $17 from $23 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Wolverine World Wide (WWW) to $17 from $23 and keeps a Market Perform rating on the shares. The company delivered a “solid” end to 2024, with in-line EPS and better-than-expected revenues, the analyst tells investors. The firm, however, sees work to be done across the brand portfolio while the macro environment and wholesale channel exposure remain headwinds.