Wells Fargo analyst Ike Boruchow downgrades $VF Corp (VFC.US)$ to a sell rating, and adjusts the target price from $14 to $15.
According to TipRanks data, the analyst has a success rate of 46.2% and a total average return of -2.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $VF Corp (VFC.US)$'s main analysts recently are as follows:
Following the completion of the sale of the Supreme brand, which enabled the company to pay down debt and alleviate near-term debt maturity pressures, the focus for investors is likely to shift towards the strategy for returning the Vans brand to profitable growth. However, the timeline for this turnaround remains uncertain.
In anticipation of the fiscal Q2 results set for October 28, there is a maintained positive outlook on VF Corp., with expectations of a significant opportunity for positive surprises and a reassessment of shares starting in fiscal Q3.
The recent surge in VF Corp.'s stock price may reflect more optimism than is feasibly warranted. Insights from recent channel checks for Vans suggest that the anticipated turnaround might face more challenges than expected. This implies that the company's shares may have advanced beyond their realistic valuations.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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