Argus raised the firm’s price target on Wolverine World Wide (WWW) to $35 from $20 and keeps a Buy rating on the shares after its Q2 earnings beat last week. The company continues to make progress toward its turnaround, with strong sales of its Saucony and Merrell brands, and the firm believes that the current valuation inadequately reflects the company’s efforts to sell its shoes at full price and turnaround plans, the analyst tells investors in a research note.
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