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Fly News Breaks for March 4, 2020
KTB
Mar 4, 2020 | 09:24 EDT
Barclays analyst Adrienne Yih lowered the firm's price target on Kontoor Brands to $31 from $43 and keeps an Equal Weight rating on the shares. The analyst reduced Kontoor's fiscal 2020 estimates given the impact of the coronavirus and the company's China sales exposure primarily from the Lee brand. With a significant portion of Lee's international revenues from China and the launch of Wrangler in Q1, investor attention will be focused on the first half of 2020 impact from COVID-19 when Kontoor reports Q4 results, says the analyst.
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