Citi Upgrades VF Corp. (VFC) to Buy, Adds to 'Top Picks Live' List

Citi's Kate McShane upgraded shares of VF Corp. (NYSE: VFC) from Neutral to Buy Tuesday morning, also adding the stock to the firm's "Top Picks Live" list. McShane's price target was raised from $137 to $157.

McShane cites "strong brands" and "secular growth opportunities." The analyst is expecting gains in the double-digit range within the company's outdoor segment following the acquisition of Timberland and "continued strength of The North Face, which will also likely gain more momentum..." as Dick's (NYSE: DKS) sets up "shop-in-shops" for North Face. McShane also pointed to wider margins as cotton prices come down next year.

Despite the upgrade and "Top Picks" call, shares of VF Corp. are flat at $126.99 in pre-open action. The analyst's new price target implies potential upside of about 24 percent from where the stock is currently trading.

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

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