VF Corp. downgraded to Neutral from Buy at Citi

Citi analyst Paul Lejuez downgraded VF Corp. (VFC) to Neutral from Buy with a price target of $12, down from $30. The firm cites its estimate decreases and increasing concern about the company’s ability to turn Vans around in the current macro environment for the downgrade. In addition, while VF has significantly improved its balance sheet following the sale of Supreme, it remains relatively highly levered, the analyst tells investors in a research note. Citi reduced VF’s fiscal 2026 and 2027 estimates based on lower sales and higher product costs driven by tariffs.