Truist analyst Joseph Civello raised the firm’s price target on VF Corp. (VFC) to $24 from $20 and keeps a Hold rating on the shares. The firm notes the shares were down low single digit despite a Q3 beat. While The North Face and Timberland both outperformed, softer Q4 guidance implies that pull-forward was a key driver in Q3. Additionally, Vans’ topline trends remain under pressure, which Truist believes remains the largest headwind for shares. In the firm’s view, management is executing very well on the turnaround initiatives and is being prudent about keeping expectations low in the near-term. That said, at this valuation, Truist thinks it will take more concrete improvements in underlying fundamentals to move shares higher.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VFC:
- VF Corp. price target raised to $35 from $27 at Stifel
- Starbucks reports Q1 beat, Frontier proposes Spirit combination: Morning Buzz
- Morning Movers: Trump Media jumps after announcement of FinTech brand Truth.Fi
- VF Corp. sees Q4 revenue down 4%-6%
- VF Corp. raises FY25 free cash flow view to $440M from $425M