Apparel Company VF's Fortune Will Not Turn For The Better, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Tom Nikic reiterated a Neutral rating on VF Corp (NYSE:VFC) and lowered the price target from $15.50 to $13, citing ongoing business challenges and declining trends for major brands like Vans and The North Face. The company is set to report Q4 FY24 earnings on May 22.
May 21, 2024 | 6:28 pm
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Wedbush analyst Tom Nikic reiterated a Neutral rating on VF Corp (NYSE:VFC) and lowered the price target from $15.50 to $13. The analyst cited ongoing business challenges, declining trends for major brands like Vans and The North Face, and a highly-levered balance sheet. The company is set to report Q4 FY24 earnings on May 22.
The analyst's lowered price target and EPS forecasts, along with the negative outlook on major brands and a highly-levered balance sheet, suggest a bearish short-term impact on VFC's stock price. The upcoming earnings report on May 22 could further influence the stock.
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