Jefferies Has Hold on Wolverine World Wide

Jefferies & Co. is out with a research report on Wolverine World Wide WWW and it has a Hold rating and a $40 price target on shares. In a note to clients, Jefferies & Co. writes, "WWW continues to capitalize on a favorable product (foootwear, oxfords, boots) and brand (Merrell, Sebago, etc) story. Expectations have been reduced significantly with the stock now more appropriately valued. We see upward bias to our and cons EPS estimate of 75c and think guidance is likely increased." Shares of WWW closed at $35.14 yesterday.