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UPDATE: DA Davidson Raises PT on VF Corporation After 'Solid' Start to Winter Season

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In a report published Monday, D.A. Davidson & Company analyst Andrew Burnes reiterated a Buy rating on VF Corporation (NYSE: VFC), raising its price target from $61.00 to $71.00, based on 20x their 2015 EPS estimate of $3.55.

According to the report, “With “normal” winter weather unfolding across the U.S., after two unusually warm and dry seasons, we believe it has been a solid start to the outerwear season. This should drive upside capacity to TNF brand performance through higher direct-to-consumer (DTC) sales as well as an overall healthy pricing environment.”

Some key points from the report included:

-”Our full year revenue and EPS estimates are now $12.337 billion and $3.13 and $13.241 billion and $3.55, respectively.” -”We believe continued organic growth and margin performance, as well as likely acquisitions will drive share appreciation.”

VFC closed Friday at $61.86.

Latest Ratings for VFC

DateFirmActionFromTo
May 2019MaintainsNeutral
May 2019Initiates Coverage OnBuy
May 2019MaintainsNeutral

View More Analyst Ratings for VFC
View the Latest Analyst Ratings

Posted-In: Andrew Burnes DA DavidsonAnalyst Color Price Target Analyst Ratings

 

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