UPDATE: Wedbush Upgrades V.F. Corp. to Outperform on 1Q EPS Preview

In a report published Monday, Wedbush analyst Corinna Freedman upgraded the rating on V.F. Corp.

from Neutral to Outperform, and raised the price target from $164.00 to $200.00. In the report, Freedman noted, “We maintain an above-consensus view for 1Q EPS, though we have trimmed our estimate to $2.24 vs. current consensus at $2.18. VFC will report 1Q13 EPS BMO on 4/26 with a conference call at 8:30am (dial in 800.946.0708). We are maintaining our above-guidance top-line assumption given our belief that Direct sales for the OAS brands likely benefitted from the cooler spring. We also believe there could be upside to gross margin estimates. While we may have overshot the magnitude of outperformance, we do expect upside versus consensus nonetheless.” V.F. Corp. closed on Friday at $169.15.