Credit Suisse Initiating Coverage On Wolverine World Wide

Credit Suisse is out with a research report on Wolverine World Wide Inc

and is initiating coverage with an Outperform rating and a $44 price target on shares. In a note to clients, Credit Suisse writes, "We Are Initiating Coverage of Wolverine World Wide with an Outperform Rating and a $44 Target Price. We see the stock as a "steady Eddie" to be considered a core holding in a small-cap GARP portfolio. Wolverine's breadth of product lines and geographic reach also reduces fashion risk and reliance on any one sales channel, providing downside protection in periods of demand volatility, which we view as an advantage in the current environment." Shares of WWW closed at $35.62 yesterday.