UPDATE: Bank Of America Reiterates On VF Corp As Timberland Is Positioned For Acceleration - VF (NYSE:VFC)

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In a report published Thursday, Bank of America analyst Robert F. Ohmes reiterated a Buy rating on

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VF Corp

(NYSE: VFC), and raised the price target from $70.00 to $73.00.In the report, Bank of America noted, “Following VF Corp's Timberland Investor Day hosted at its HQ in Stratham, NH, we now expect Timberland (~15% of sales) to grow at a healthy 13% CAGR over the next five years to over $3BN (from $1.7BN in 2014). We re-iterate our Buy rating and are raising our PO to $73 (was $70), 20-21x our 2015E EPS of $3.50 given strong trends in the Outdoor Coalition (North Face, Timberland and Vans).”VF Corp closed on Wednesday at $66.21.