VF Corp. (VFC) PT, Est. Trimmed at Piper Jaffray Following Teen Survey

October 13, 2016 4:40 PM EDT
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Price: $53.07 --0%

Rating Summary:
    13 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Piper Jaffray analyst Erinn Murphy trimmed estimates and her price target on VF Corp. (NYSE: VFC) to $63.00 (from $67.00) following the firm's 32nd semi-annual Taking Stock With Teens survey. She is leaving an Overweight rating on the stock.

Murphy commented: "We are reducing our estimates slightly--for Q3 and beyond to take into account somewhat mixed reads on VFC's core portfolio. VFC's three major brands, The North Face (20% sales), Vans (18-19% sales) and Timberland (16-17% sales) all show up in our survey work. For the last several months, the investment community has been highly (almost myopically) focused on trends & comments around Vans, particularly post the GCO quarter. While our survey work confirms slippage for the Vans brand among females (in favor of adidas & Converse), we did see share gains among teen males. In sum, reads were "mixed", not terrible. In fact, Vans is still the No. 2 footwear brand in our survey at 9% share--flat Y/Y. TNF & Timberland were effectively unchanged."

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 $54.73 yesterday.

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