WWW Remains Expensive, Says Sterne Agee; Reiterates Underperform

In a research report issued today, Sterne Agee analyst Sam Poser reiterated an Underperform rating on Wolverine World Wide (NYSE:WWW) with a $23 price target. 

Poser commented: “Trends in Sperry and Merrell have not improved since WWW provided guidance on 7/15. Reducing 4Q14 estimates due to FX pressures. The company’s 2018 revenue expectations need to be reduced from $4.1B to sub $3.5B due to recent lackluster performance for both Merrell & Sperry. 2018 EPS target may be achieved. The stock remains expensive given modest revenue growth and debt levels.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sam Poser has a total average return of 18.9% and a 70.6% success rate. Poser has a 9.6% average return when recommending WWW, and is ranked #36 out of 3315 analysts.

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