Kontoor Brands price target raised to $110 from $103 at UBS

UBS analyst Jay Sole raised the firm’s price target on Kontoor Brands (KTB) to $110 from $103 and keeps a Buy rating on the shares. Kontoor’s Q3 report underscored its brands’ improving momentum, as Kontoor continues to strengthen its position as one of the leading denim players, as evidenced by ongoing point of sale share gains, the analyst tells investors in a research note. The firm forecasts an 11% 5-year CAGR and expects EPS beats over the near-term to catalyze the stock towards the $110 price target