Supreme Parent VF Corp's Growth Depends On Vans Reboot: Analyst Points To Innovation As Key For Turnaround
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Tom Nikic has reiterated a Neutral rating on VF Corp (VFC) with a $21 price target. Nikic believes that VFC's growth depends on product innovation in its Vans brand. The North Face (TNF), another brand in VFC's portfolio, has been performing well due to strong outdoor industry and company-specific drivers. The company's priority is to deleverage its balance sheet before looking at M&A again. Despite the underperformance of its recent acquisition, Supreme, the analyst sees geographic expansion as a big opportunity. VFC's stock direction is likely to be driven by the Vans brand.
August 29, 2023 | 5:48 pm
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VF Corp's growth is dependent on product innovation in its Vans brand, according to a Wedbush analyst. The company's stock direction is likely to be driven by the performance of the Vans brand.
The analyst's neutral rating indicates uncertainty about the company's future performance. The emphasis on product innovation in the Vans brand suggests that its success or failure could significantly impact the company's stock price. The underperformance of the Supreme brand could also negatively affect the stock price if it continues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100