VF Corp. price target raised to $35 from $27 at Stifel

Stifel raised the firm’s price target on VF Corp. (VFC) to $35 from $27 and keeps a Buy rating on the shares. The company’s Q3 report showcased a revenue inflection, a “positive surprise on brand fundamentals,” over-delivery on both gross margin and expenses, and “impressive balance sheet progress,” the analyst tells investors. Q4 guidance was “prudently subdued,” but Stifel estimates will remain above this guidance as the firm sees this as “a deliberate attempt to temper sell-side expectations,” the analyst added.