Piper Sandler's Take On Apparel Stocks - Skechers Gets Upgraded, VFC Downgraded
Portfolio Pulse from Shivani Kumaresan
Piper Sandler analyst Abbie Zvejnieks upgraded Skechers U.S.A., Inc. (SKX) from Neutral to Overweight and raised the price target from $54 to $59, citing strong underlying demand and potential for international growth. However, V.F. Corp (VFC) was downgraded from Overweight to Neutral with a lowered price target from $28 to $20 due to weakness in core classics and an unfavorable ruling on the Timberland tax credit.
September 18, 2023 | 6:29 pm
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POSITIVE IMPACT
Skechers was upgraded by Piper Sandler due to strong demand and international growth prospects.
The upgrade by Piper Sandler indicates a positive outlook for Skechers, which could lead to an increase in investor confidence and potentially a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
V.F. Corp was downgraded by Piper Sandler due to weakness in core classics and an unfavorable Timberland tax credit ruling.
The downgrade by Piper Sandler indicates a negative outlook for V.F. Corp, which could lead to a decrease in investor confidence and potentially a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100