Pivotal Research Upgrades VF Corp. (VFC) to Buy
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Pivotal Research analyst Mitch Kummetz upgraded VF Corp. (NYSE: VFC) from Hold to Buy with a price target of $94.00 (from $86.00).
The analyst comments "We are upgrading VFC from HOLD to BUY and raising our price target from $86 to $94. In short, we like the set up. As a reminder, we’ve been on the sidelines for just over three years, after downgrading back in February 2018 (at $75.34) on what we thought was an unfavorable set up. At that time, The North Face was going through a transition, Vans was about to lap some tough comparisons, and we were lowering estimates. Today’s setup is very much the opposite of three years ago: The North Face and Timberland are inflecting positively, Vans is about to lap some easy comparisons, and we are raising estimates."
Shares of VF Corp. closed at $78.77 yesterday.
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