UBS Reiterates Buy Rating on Wolverine World Wide (WWW)

UBS analyst Jay Sole reiterated a Buy rating and $20.00 price target on Wolverine World Wide (NYSE: WWW)

The analyst comments "We met with Saucony's mgmt. and WWW's Investor Relations team at our Athletic Training & Lifestyle Innovation Day (link). Management showcased Saucony’s product innovation and highlighted three strategic priorities to drive growth: 1) Reinvigorate Run Specialty; 2) Expand in lifestyle; and 3) Accelerate global growth. We came away with high conviction the brand's sales can inflect to positive in FY25 and deliver multi-year growth. We thus model Saucony's sales rising at a 7% 4-yr. CAGR post FY24, a key driver behind our 24% 4-yr. EPS CAGR for WWW. We continue to rate WWW Buy."

For an analyst ratings summary and ratings history on Wolverine World Wide click here. For more ratings news on Wolverine World Wide click here.

Shares of Wolverine World Wide closed at $17.18 yesterday.

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