Barclays Upgrades VF Corp. (VFC) to Overweight

Barclays analyst Adrienne Yih upgraded VF Corp. (NYSE: VFC) from Equalweight to Overweight with a price target of $22.00 (from $19.00).

The analyst comments: "Upgrade to Overweight; see attractive risk/reward. We believe VFC will begin to see the positive impact of changes, led by CEO Bracken Darrell (who just completed his one-year anniversary in July 2024), throughout the organization beginning in fall 2024 and accelerating into 2025. Stocks usually begin to "move" once there is an agent of change for improvement, and well before we see a sustained pattern of "beat and raise" quarters relative to consensus expectations. By the time we see a company return to margin expansion and/or sustainable positive sales, typically the stock has moved materially off its absolute low. As such, we prefer to take a calculated risk-reward position by identifying catalysts that could impact the narrative, if not the fundamentals yet, of the company's story. We upgrade VFC to Overweight."

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 $18.40 yesterday.

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