VF Corp. price target raised to $18 from $16 at Goldman Sachs

Goldman Sachs raised the firm’s price target on VF Corp. (VFC) to $18 from $16 and keeps a Neutral rating on the shares. The company reported a healthy Q3 earnings beat, driven by outperformance at The North Face brand and better gross margins, but against a backdrop of elevated investor expectations, focus remains centered on still-pressured Vans brand growth, the analyst tells investors in a research note. Goldman adds it is encouraged by the progress VF Corp management is making against their Reinvent strategy, which is driving sequential improvements in both revenue growth and profitability overall.