Stifel analyst Jim Duffy lowered the firm’s price target on Birkenstock to $63 from $70 and keeps a Buy rating on the shares as channel mix weighs on Q3 topline, though underlying demand and share gains remain encouraging. The firm notes Birkenstock is the top share gainer in casual footwear, with drivers in place for profitable growth and balance sheet improvement, and says shares remain deserving of a premium multiple.
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