UBS Maintains a 'Buy' on VF Corp. (VFC); Raising FY Estimates on Strong Q1
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Price: $183.73 +1.22%
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade VFC Now!
UBS maintains a 'Buy' on VF Corp. (NYSE: VFC) price target raised from $165 to $170.
Analyst, Michael Binetti, said, "We are raising our 2012E EPS slightly to $9.70 from $9.67, largely to reflect 1) a $0.02 beat in 1Q (reported $1.94 vs UBSe: $1.92/Street: $1.87); 2) better-than-expected 1Q revenue trends in 1Q (+30.5% vs our +24.8% est) and 3) signs that GM’s in the core business (ex-TBL) are improving faster than expected. That said, we are trimming our 2QE EPS to $1.00 from $1.18 (Street was at $1.08) to reflect near-term TBL inventory clearing and lower upside potential in the seasonally low-revenue 2Q (only ~20% of annual revs, and ~10% of ’12 EPS)."
UBS raises FY13 EPS estimate slightly, from $11.08 to $11.11.
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 $154.20 yesterday, with a 52 week range of $91.60-$155.84.
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Analyst, Michael Binetti, said, "We are raising our 2012E EPS slightly to $9.70 from $9.67, largely to reflect 1) a $0.02 beat in 1Q (reported $1.94 vs UBSe: $1.92/Street: $1.87); 2) better-than-expected 1Q revenue trends in 1Q (+30.5% vs our +24.8% est) and 3) signs that GM’s in the core business (ex-TBL) are improving faster than expected. That said, we are trimming our 2QE EPS to $1.00 from $1.18 (Street was at $1.08) to reflect near-term TBL inventory clearing and lower upside potential in the seasonally low-revenue 2Q (only ~20% of annual revs, and ~10% of ’12 EPS)."
UBS raises FY13 EPS estimate slightly, from $11.08 to $11.11.
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 $154.20 yesterday, with a 52 week range of $91.60-$155.84.
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