According to CNBC, Jefferies upgraded Kontoor Brands, the Wrangler jeans parent, to buy from neutral and raised its price target to $89 from $82, implying about 30% upside from Tuesday's close. Analyst Blake Anderson said the company has a compelling multi-year growth story and is well positioned to benefit from renewed interest in denim, while also citing opportunities at Wrangler and Helly Hansen, which was acquired last year. Anderson said Helly Hansen is expanding in the U.S. and that the acquisition of HH in May of '25 adds an important growth layer to the KTB portfolio. He also said workwear offers significant room for growth behind new investment. Kontoor shares have fallen roughly 15% over the past year, or about 16% over the past 12 months, and trade at about 10 times price to equity, according to Jefferies. Jefferies analyst Corey Tarlowe said denim demand has recently accelerated and is now matching or exceeding apparel growth rates, while past pressure from athleisure has largely eased. Of the 10 analysts covering Kontoor Brands, eight rate the stock buy or strong buy, LSEG data shows.