VF Corp. price target lowered to $20 from $27 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on VF Corp. to $20 from $27 and keeps an Outperform rating on the shares following a Q2 release the firm calls “a bit of a mixed bag.” While it may take time for new CEO Bracken Darrell’s strategy to bear fruit, the firm continues to believe VF’s strong brand portfolio can drive broad-based growth across channels and geographies longer-term, though the firm is lowering its price target given its lower estimates.