UBS analyst Mauricio Serna raised the firm’s price target on Wolverine World Wide (WWW) to $36 from $30 and keeps a Buy rating on the shares. The firm says the company’s Q2 earnings beat and Saucony’s 42% year-over-year sales growth reinforce its view that the brand-building playbook is working. Wolverine’s ongoing investments in Active brands should drive sustainable sales and earnings growth, the analyst tells investors in a research note.
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