VF Corp. initiated with an In Line at Evercore ISI

Evercore ISI initiated coverage of VF Corp. with an In Line rating and $17 price target. The firm has “remained disappointed” with the ongoing struggle to turn Vans over the past several quarters and says it has had “concerns for some time about restoring Vans’ brand heat in the middle of a tough consumer backdrop,” adding that it still haven’t seen initial positive indications from that brand yet. However, the firm adds that diligence on new CEO Bracken Darrell is “encouraging” and it thinks he has “many core strengths VFC needs for the issues at hand.”