VF Corp. initiated with a Hold at Truist

Truist initiated coverage of VF Corp. (VFC) with a Hold rating and $20 price target Vans turnaround efforts are underway, but “there’s a long road ahead,” says the analyst, who adds that the Supreme divestment helped ease near-term balance sheet concerns, but puts more pressure on other brands for profitable growth. The firm thinks the stock’s outperformance, with shares up about 47% since announcing the Supreme divestment in July, has “priced in this progress and appropriate forward optimism,” the analyst added.