Janney Montgomery Scott Maintains a 'Buy' on VF Corp. (VFC); International Holding Up Despite Conditions

July 20, 2012 10:56 AM EDT
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Price: $51.85 +0.70%

Rating Summary:
    11 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Janney Montgomery Scott maintains a 'Buy' on VF Corp. (NYSE: VFC) price target of $170.00 (from $160.00).

Analyst, Eric Tracy, said, "With Europe (+16%) and China (+30%) growth intact, despite weakening macro conditions, clearly VF's strong portfolio of brands is driving relative out-performance. Strength in high growth brands such as The North Face (+16% globally in constant currency) and Vans (+29%), augmented by accretion from Timberland (still pegged at $1.10 for FY12) should continue to drive gains, helping to offset potential pressures on the more mature businesses (Jeanswear Europe in particular)...We are raising our EPS estimates, with FY12 and FY13 now $9.51 (vs. $9.41 prior) and $10.91 (vs. $10.80) prior."

For an analyst ratings summary and ratings history on VF Corp. click here. For more ratings news on VF Corp. click here.

Shares of VF Corp. closed at $152.42 yesterday.

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