J.P. Morgan U.S. SMid FTM 8 Jun 26 Global Data Watch; KTB; EROK; GMRS and More

研报英文原文证据摘录

J.P. Morgan U.S. SMid FTM 8 Jun 26 Global Data Watch; KTB; EROK; GMRS and More

North America Equity Research

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U.S. SMID First to Market 08 June 2026

Top Stories

Global Data Watch (Bruce Kasman)

Yes, and it counts

• US job bounce supportive of our recoupling theme …

• … challenging narrative that productivity-led growth is the norm …

• … and pointing to a tightening labor market and Fed hike ahead

• Next week: ECB hike and US CPI spike

Init | Kontoor Brands (Matthew R. Boss, CPA) (KTB, OW, PT $90.00)

Portfolio At An Inflection Point; Initiate Overweight w/ $90 Price Target

We are initiating coverage of Kontoor Brands (KTB) with an Overweight rating and $90 December 2027 price

target. Importantly, we see the portfolio at an inflection point to accelerate growth into FY27, with a narrowed focus

on function-based brands consisting of Wrangler (low-to-mid-single-digits+ revenue growth profile on core/replenishment

denim + early innings Women’s/DTC/Int’l growth) and Helly Hansen (“breakout” +double-digit growth opportunity into ’27),

following the divestment of the Lee brand (announced 5/21).

Init | EagleRock Land, LLC (Eli Jossen, CFA) (EROK, OW, PT $25.00)

Fly Like an Eagle; Capital-Light Permian Platform Soars With Growth; Initiating at OW

We initiate coverage of EagleRock Land, LLC (EROK) with an Overweight rating and December 2026 price target of $25,

weighing differentiated growth within a capital-light, Permian-centric land management platform. EROK’s royalty-driven