Citi lowered the firm’s price target on VF Corp. to $13 from $16 and keeps a Neutral rating on the shares. The firm expects the company’s fiscal Q4 sales and earnings to be approximately in line with consensus. With inventory clean-up at Vans, there is unlikely to be any positive improvement to call out for the brand, but with the stock on its lows the risk/reward “skews positive if anything were to go right,” the analyst tells investors in a research note. Citi, however, expects a weak Q4 report with no improvement at Vans.
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