VF Corp. price target lowered to $17 from $18 at UBS

UBS analyst Jay Sole lowered the firm’s price target on VF Corp. to $17 from $18 and keeps a Neutral rating on the shares. VF. Corp withdrew its FY24 revenue and earnings guidance, but sees free cash flow of approximately $600M compared to previous guidance of approximately $900M, the analyst tells investors in a research note. Sales growth rates are still decelerating in many parts of VF’s business and this trend likely gets amplified by a weakening consumer spending environment, the firm argues.