Market Overview

Stifel Nicolaus Reiterates Buy, $47 OT on Wolverine World Wide, Takes Cautious View on 2H12

Share:
Related WWW
Watch These 7 Huge Put Purchases In Tuesday Trade
Mid-Afternoon Market Update: Dow Falls 0.5%; WhiteWave Foods Shares Spike Higher
Shaky earnings roil apparel and footwear stocks (Seeking Alpha)

Stifel Nicolaus maintained its Buy rating and $47 price target on Wolverine World Wide (NYSE: WWW) but decreased its estimates for 2H12 ahead of Q2 earnings on July 10.

In the report, Stifel Nicolaus noted, "We remain comfortable with 2Q estimates ($310.5mn and $0.44 vs. consensus of $314.5mn and $0.44). We have a more cautious view on earnings power in 2H12. FY12 base business estimates go from $2.72 to $2.70 based on belief that retailers' conservative posture on inventory, particularly in Europe, could weigh on volumes in 3Q. The PLG acquisition holds potential to be dilutive to FY12 vs. guidance for minimal impact dependent on timing of the transaction close."

Wolverine World Wide closed at $38.27 on Tuesday.

Latest Ratings for WWW

DateFirmActionFromTo
Jul 2016SusquehannaUpgradesNeutralPositive
Apr 2016Sterne Agee CRTDowngradesNeutralUnderperform
Jan 2016Sterne Agee CRTUpgradesUnderperformNeutral

View More Analyst Ratings for WWW
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (WWW)

View Comments and Join the Discussion!