VF Corp. price target raised to $24 from $20 at Citi

Citi raised the firm’s price target on VF Corp. (VFC) to $24 from $20 and keeps a Buy rating on the shares post the Q2 report. The company’s earnings significantly beat consensus, driven by better sales, margin and spending, the analyst tells investors in a research note. The firm says perhaps more surprising was the sequential improvement at Vans. While the absolute result at Vans “wasn’t impressive,” recent data led many investors to expect significantly worse results, contends Citi. The firm expects the stock “to be up significantly given negative sentiment.”