Birkenstock price target raised to $77 from $63 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the firm’s price target on Birkenstock to $77 from $63 and keeps an Outperform rating on the shares. Birkenstock has had “the clearest across-the-board positive feedback” from the firm’s retail conversations in the U.S. and Europe coming out of summer and based on its strong performance this summer, retailers are “enthusiastic to extend the brand into more fashion and closed toe categories in fall/winter,” the analyst tells investors.