Exane downgrades VF into earnings, says in ‘hard place for now’

Exane BNP Paribas downgraded VF Corp. to Neutral from Outperform with a price target of $14, down from $18. The company is in a “hard place for now,” the analyst tells investors in a research note. The firm believes consensus fiscal 2025 estimates “appear high.” It expects downward revisions when VF introduces guidance with next week’s earnings release as challenges with Vans, Dickies and Timberland persist. VF may very likely need to refinance upcoming debt instead of paying it down, adds Exane.