Stifel upgraded Wolverine World Wide (WWW) to Buy from Hold with a price target of $29, up from $21. The company saw business stabilize and its balance sheet progress this year, making 2025 an inflection year, the analyst tells investors in a research note. With high-single digit plus growth capacity in 2025, Stifel sees Wolverine’s net leverage reduced to 2.3-times by FY25 year-end, adding that the company’s execution on revenue growth opportunities in 2025 will add credibility to the management’s long-term financial objectives for mid-single-digit revenue growth.
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