Kontoor Brands price target raised to $90 from $80 at Wells Fargo

Wells Fargo analyst Ike Boruchow raised the firm’s price target on Kontoor Brands (KTB) to $90 from $80 and keeps an Overweight rating on the shares. The firm remains buyers of Kontoor Brands into Q3, saying it has quietly become one of the best performing names in the space over the past six months. Wells expects the bull case to continue unfolding. Revenues are accelerating and margins have ample upside, the firm adds.