UPDATE: Goldman Sachs Resumes Coverage on VF Corp. with Buy Rating on Strong Micro-Level Execution

In a report published Thursday, Goldman Sachs analyst Lindsay Drucker Mann resumed coverage on VF Corp.

with a Buy rating and $200.00 price target. In the report, Mann noted, “We resume coverage of VF Corp with a Buy rating and 21% upside potential to our $200, six-month price target. The story here is powerful brand stories executing on a micro level, driving long-term sales and earnings across the portfolio. VFC has shown (1) a proven ability to drive organic growth in its portfolio of preeminent brands by filling out product and distribution white space without compromising brand equity, (2) best-in-class supply chain capabilities that support ongoing margin expansion, and (3) its unique opportunity to acquire high-quality orphan brands and deliver outsized earnings accretion.” VF Corp. closed on Wednesday at $165.96.