VF Corp. downgraded to Underweight from Equal Weight at Wells Fargo

Wells Fargo downgraded VF Corp. to Underweight from Equal Weight with a price target of $15, down from $16. The stock is pricing in “much more upside than appears realistic” following the recent rally, the analyst tells investors in a research note. The firm says its recent Vans channel checks indicate the turnaround “may not be as smooth as anticipated.” As such, it believes VF shares have gotten “ahead of itself.”