Wolverine World Wide price target raised to $29 from $17 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Wolverine World Wide (WWW) to $29 from $17 and keeps a Market Perform rating on the shares. The company reported “strong” Q2 results, and the firm remains encouraged that its two largest brands drove double-digit growth, the analyst tells investors. The company, however, has some work to do across its brand portfolio, and the macro environment and wholesale channel exposure remain headwinds, the firm adds.