Barclays Maintains an 'Overweight' on VF Corp. (VFC); Review of 3Q11 Earnings

Barclays maintains an 'Overweight' on VF Corp. (NYSE: VFC) price target raised $5.00 to $150.00.

Barclays analyst says, "VF Corp. reported 3Q11 EPS increased 29.2% to $2.87, ahead of our estimate. EPS benefitted from accretion from the Timberland deal of $0.25 and a benefit from currency translation of $0.10. This result does not include acquisition-related expenses."

"We were impressed by the organic growth and overall momentum, complemented by the better-than-expected results from the Timberland acquisition. We are increasing our EPS estimates to include the accretion (now $0.55 in 2011, vs prior $0.45) from the acquisition, as well as higher expectations for the year on an organic basis. These estimates exclude acquisition-related expenses. We are increasing our 2011 EPS estimate to $8.15 from $7.75, and our 2012 EPS estimate to $9.60 from $9.10 including $0.90 of accretion."

For more ratings news on VF Corp. click here and for the rating history of VF Corp. click here.

Shares of VF Corp. closed at $136.99 yesterday.

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