Truist raised the firm’s price target on VF Corp. (VFC) to $15 from $14 and keeps a Hold rating on the shares. The stock fell on Q2 results despite a top-line and EPS beat as underlying Vans’ trends remain soft, with the business still trending down high-single-digits excluding reset actions, the analyst tells investors in a research note. These declines are expected to continue through Q3, which further pushes out the timeline for a meaningful/durable growth inflection for Vans, the firm added.
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Read More on VFC:
- VF Corp. price target raised to $16 from $14 at Telsey Advisory
- VF Corp. price target raised to $15 from $13.50 at Goldman Sachs
- VF Corp. price target lowered to $18 from $19 at Barclays
- VF Corp. downgraded to Neutral from Outperform at KGI Securities
- VF Corp. price target raised to $14 from $12 at BofA