Deutsche Bank analyst Gabriella Carbone lowered the firm’s price target on VF Corp. to $33 from $35 and keeps a Buy rating on the shares. The company’s Q3 results had a "lot to unpack" as the company announced plans to accelerate the path to its target leverage ratio, the analyst tells investors. The company’s EPS beat the firm’s forecast and its top-line was generally in line with estimates, with The North Face posting "solid" results, the firm says. Vans, however, continued to underperform.
Published first on TheFly
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- VF Corp. expects Vans to be down high single digit percentage range in FY23
- VF Corp. sees $225M of annualized savings in fiscal 2024
- VF commencing strategic alternatives for Global Packs business
- VF Corp. cuts quarterly dividend to 30c from 51c per share
- VF Corp. sees FY24 operating earnings up double-digits
