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UPDATE: Citigroup Raises PT to $184 on VF Corporation on Growth Outlook

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Citigroup reiterated its Buy rating on VF Corporation (NYSE: VFC) and increased its price target from $165 to $184.

Citigroup commented, "We are removing VFC from Citi's Top Picks Live! list given the stock's outperformance – up 14% since we added it on 21 June 2012. However, we are maintaining our Buy rating on VFC as we believe the long-term story remains in tact: topline growth and margin expansion. VFC's increased international growth expectations (now 45% penetration by 2017 vs. 40% by 2015 previously) and U.S. performance should continue to drive solid topline growth. Additionally, we continue to expect margins to expand from: 1) lower cotton prices; 2) low inventories; 3) higher selling prices sticking; and 4) mix enhancements (international, outdoor/action sports, DTC)."

VF Corporation closed at $158.49 on Friday.

Latest Ratings for VFC

DateFirmActionFromTo
Aug 2015Canaccord GenuityInitiates Coverage onBuy
Aug 2015Sterne AgeeInitiates Coverage onNeutral
Aug 2015Sterne Agee CRTInitiates Coverage onNeutral

View More Analyst Ratings for VFC
View the Latest Analyst Ratings

Posted-In: Citigroup Top Picks Live!Analyst Color Price Target Intraday Update Analyst Ratings

 

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