JPMorgan cuts VF Corp. target, opens ‘Negative Catalyst Watch’

JPMorgan lowered the firm’s price target on VF Corp. to $12 from $16 and keeps a Neutral rating on the shares. The analyst also opened a “Negative Catalyst Watch” on the shares ahead of the Q4 earnings report. The firm anticipates a negative earnings revision to fiscal 2025 consensus numbers with incentive compensation fully offsetting flow-through of VF’s cost savings. The firm’s work points to ongoing wholesale revenue headwinds across both North America and Europe for the company.