VF Corp. price target lowered to $13 from $15.50 at Wedbush

Wedbush lowered the firm’s price target on VF Corp. to $13 from $15.50 and keeps a Neutral rating on the shares. The firm’s checks suggest that business trends remain challenged, and, as a result, the magnitude of the EPS recovery Wedbush previously forecast does not seem realistic, the analyst tells investors in a research note. However, sentiment is currently so low on the name that it’s hard to envision much more downside from here, the firm adds, but doesn’t see reasons to believe that the business is turning for the better right now.