BUZZ-Wolverine World Wide falls after brokerages downgrade stock

Reuters01-24 00:00

** Shares of footwear maker Wolverine World Wide WWW.N fall 4.9% to $18.33

** Argus Research downgrades WWW to 'hold' from 'buy' as co faces various headwinds

** Argus Research cites rating cut to uncertainty regarding trade policies, slowing sales in Lifestyle category and investments in its brands

** Weak direct-to-consumer revenues in Q3 suggest continuing weakness in a channel important to co's growth and profitability, Argus Research says

** Exane BNP Paribas also cuts rating to 'neutral' from 'outperform'; lowers PT to $19 from $38

** 5 of 10 brokerages rate stock "buy" or higher, 5 "hold"; their median PT is $23 - LSEG-compiled data

** Stock had fallen 18.24% in 2025

(Reporting by Megha Anilkumar Nair)

((MeghaAnilkumar.Nair@thomsonreuters.com;))

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