Shares of apparel and footwear company VF Corp. (NYSE:VFC) soared at the time of writing as JP Morgan analyst Matthew Boss upgraded the stock from Sell to Hold and raised the price target to $19, up from $15.
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According to the analyst, VFC has slid by more than 80% in the past 24 months and aims to reverse its risk/reward profile by focusing on improving gross margins, reducing costs, and clearing $1.75 billion worth of debt by April 2025.
The company’s CEO, Bracken Darrell, has told analysts that he is looking at applying strategies from his successful Logitech (LOGI) turnaround as he sees parallels and structural similarities between the two companies. However, Darrell emphasized that VFC’s Vans brand is stronger than the Logitech brand.
Is VFC a Good Stock to Buy Now?
Overall, analysts remain sidelined about VFC stock with a Hold consensus rating based on five Buys, 11 Holds, and two Sells. VFC stock has declined by more than 40% in the past year, even as the average VFC price target of $18.71 implies an upside potential of 6.3% at current levels.

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