JPMorgan placed VF Corp. (VFC) on “Negative Catalyst Watch” ahead of the company’s fiscal Q2 report on October 28 while keeping a Neutral rating on the shares with a $16 price target The firm’s work points to continued wholesale challenges at The North Face, with management citing reluctance from retail partners to take on inventory risk early following a warmer start to fall and winter last year. At point of sale, JPMorgan’s work points to ongoing traffic headwinds globally across brands in the portfolio, the analyst tells investors in a research note.
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