Shares of VF Corp (NYSE:VFC) are trading higher today, which can be attributed to an analyst upgrade. Indeed, Sam Poser of Williams Trading changed his rating on the stock from Sell to Buy while assigning a price target of $27 per share. For reference, his previous price target was $25 per share.
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Poser pointed to cost cuts and falling freight prices as catalysts for margin improvement going forward. In addition, management’s confidence in achieving their 2024 targets also gives him confidence that there is upside available in the stock.
Overall, Wall Street analysts have a consensus price target of $30.27 on VFC stock, implying 40.4% upside potential, as indicated by the graphic above.
