Stifel lowered the firm’s price target on Wolverine World Wide (WWW) to $25 from $36 and keeps a Buy rating on the shares. Results topped the firm’s above-consensus estimates, though the characteristically conservative guidance fell shy of the estimates indicating a deceleration in Q4, the analyst tells investors in a research note. The firm added that its thesis calls for a mix shift towards the highest value brands to structurally improve the growth and margin profile of the business.
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