Wolverine World Wide price target raised to $23 from $15 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Wolverine World Wide (WWW) to $23 from $15 and keeps a Market Perform rating on the shares. The company delivered “another solid quarter” with EPS upside driven by better-than-expected performance, the analyst tells investors. Telsey raises its price target on the stock given the Q3 beat and improving confidence in the brand portfolio trajectory. However, the firm believes significant FY25 growth is potentially necessary to drive another significant “leg up” from current levels in a challenging wholesale and global macro environment, leading the firm to maintain its rating on the stock.