Williams downgrades VF Corp. to Sell on lack of Vans turnaround

Williams Trading analyst Sam Poser last night downgraded VF Corp. to Sell from Hold with a price target of $13, down from $17. Based on channel checks and commentary from some retailers at the recent ICR conference, there are no indications that Vans will turnaround in the foreseeable future, the analyst tells investors in a research note. The firm says the Timberland business remains challenged, “to say the least, and has proved to be huge disappointment since it was acquired in 2011.” VF “is in a tenuous situation,” according to Williams Trading.