Telsey Advisory raises Birkenstock's PT on strong demand, higher prices
** Telsey Advisory Group raises Birkenstock's BIRK.N PT to $70 from $63 on resilient demand in Europe and Americas mainly
** Brokerage says BIRK continues to benefit from retailers seeking out top-performing brands in Americas region
** TAG expects full-price selling to aid sales as more customers look for premium but in trend footwear
** Birkenstock could be brand winner this back-to-school season as it captures higher proportion of spending by customers looking for newness, similar to other innovative footwear brands such as DECK's Hoka and Ugg and On, TAG says
** Adds demand for BIRK'S products, however, has exceeded supply over past ten years, purposefully resulting in product scarcity
** 14 of 17 brokerages rate stock "buy" or higher and three "hold"; their median PT is $65
** Up to Thursday's close, stock had risen nearly 28% so far this year
Reporting by Ananya Mariam Rajesh in Bengaluru
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