UBS Maintains a 'Buy' on VF Corp. (VFC); Setting the Stage For Stronger LT Growth
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Price: $14.87 +0.88%
Rating Summary:
16 Buy, 24 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 24 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on VF Corp. (NYSE: VFC) price target raised from $152 to $165.
UBS analyst says, "We believe VFC’s initial ‘12 guidance for $9.30 in EPS is among the most conservative in the sector. We believe guidance (and Consensus) will begin to rise as the TBL integration accelerates & order visibility for the fall/winter season improves in coming months. We are trimming our ‘12E EPS to $9.67 from $9.76, largely to reflect 4Q11 EPS $0.11 below our est. Our estimates remain above Consensus."
"For 2-yrs we’ve argued that VFC’s evolution toward a greater mix of revs from highgrowth/high-margin brands, international mkts, and owned retail would drive valuation higher. Over that time, VFC has continued to invest in brands & assets that we believe have pulled the LT growth rate higher. With the integration of TBL and ongoing investments in the core business, we believe VFC can deliver 15% EPS growth through 2014 (CAGR) which can support a higher 15x target P/E."
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 $147.92 yesterday.
UBS analyst says, "We believe VFC’s initial ‘12 guidance for $9.30 in EPS is among the most conservative in the sector. We believe guidance (and Consensus) will begin to rise as the TBL integration accelerates & order visibility for the fall/winter season improves in coming months. We are trimming our ‘12E EPS to $9.67 from $9.76, largely to reflect 4Q11 EPS $0.11 below our est. Our estimates remain above Consensus."
"For 2-yrs we’ve argued that VFC’s evolution toward a greater mix of revs from highgrowth/high-margin brands, international mkts, and owned retail would drive valuation higher. Over that time, VFC has continued to invest in brands & assets that we believe have pulled the LT growth rate higher. With the integration of TBL and ongoing investments in the core business, we believe VFC can deliver 15% EPS growth through 2014 (CAGR) which can support a higher 15x target P/E."
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 $147.92 yesterday.
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