JPMorgan Says VF Corp. (VFC) Has 'Strong Brand Portfolio, Best-in-Class Management'; Starts at Overweight

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JPMorgan's Matthew Boss initiated coverage on four Apparel stocks Friday morning; only one was started with an Overweight rating: VF Corp. (NYSE: VFC). Shares of VF Corp, then, are leading this group higher Friday afternoon.

Boss also started coverage on shares of PVH (NYSE: PVH), Ralph Lauren (NYSE: RL) and Warnaco (NYSE: WRC), each with Neutral ratings.

The analyst believes VF offers a "strong brand portfolio, best-in-class management and a level of consistency that is hard to match today." On the other hand, Boss pointed to ongoing transitions at both Ralph Lauren and Warnaco, and said he is worried about PVH's performance over the second half of this year.

Boss set a $167 price target on shares of VF Corp., suggesting potential upside of about 17 percent from the $142 range the stock is currently trading near. Shares are up 1.8 percent at last check.

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