Stifel Downgrades Kontoor Brands to Hold, Raises Price Target to $93
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Jim Duffy has downgraded Kontoor Brands (NYSE:KTB) from Buy to Hold, while raising the price target from $89 to $93.
November 01, 2024 | 10:27 am
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Stifel analyst Jim Duffy downgraded Kontoor Brands from Buy to Hold, but increased the price target from $89 to $93, indicating a more cautious outlook despite a higher valuation.
The downgrade from Buy to Hold suggests a more cautious stance by the analyst, which could lead to neutral sentiment in the short term. However, the raised price target indicates some positive expectations for the stock's valuation, balancing the impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100