DA Davidson Raises Price Target on VF Corp. (VFC), Timberland Deal is Not the Only Thing Driving the Share Price
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Price: $14.44 -2.89%
Rating Summary:
16 Buy, 24 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
16 Buy, 24 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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DA Davidson is maintaining its Buy rating on shares of VF Corp. (NYSE: VFC) while raising its price target from $119 to $131.
Shares of VFC has appreciated 22 percent since the announcement was made to acquire Timberland. The firm believes that the rise is not only due to the acquisition announcement, but that it also reflects growing confidence in the company's unique brand assets like The North Face, Vans, and Lee and Wrangler.
The company forecasts that the Timberland acquisition may add an additional $0.90 in earnings to its 2012 results, which also the firm believes is accomplishable. The firms new price target of $131 calls for a 16x of its 2012 EPS estimate of $8.19, which does not include any adjustment from the Timberland acquisition.
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 $113.32 yesterday.
Shares of VFC has appreciated 22 percent since the announcement was made to acquire Timberland. The firm believes that the rise is not only due to the acquisition announcement, but that it also reflects growing confidence in the company's unique brand assets like The North Face, Vans, and Lee and Wrangler.
The company forecasts that the Timberland acquisition may add an additional $0.90 in earnings to its 2012 results, which also the firm believes is accomplishable. The firms new price target of $131 calls for a 16x of its 2012 EPS estimate of $8.19, which does not include any adjustment from the Timberland acquisition.
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 $113.32 yesterday.
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