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Telsey Says VFC Remains 'Well-Positioned' For Growth

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·1 min read
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  • Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on VF Corp (NYSE: VFC) with a price target of $70 (48% upside).

  • The analyst expects Q1 FY23 revenue growth to exceed the consensus growth estimate of 2%.

  • Weakness in China and softer Vans revenue are expected to lag in the first quarter before improving as the year progresses.

  • While the current environment in China is challenging, the company continues to see significant distribution and brand awareness opportunities in China for all of its brands.

  • Telsey said the company continued to face elevated freight costs, port congestion, labor shortages, and equipment constraints.

  • Despite macro pressures, the analyst continues to view the company's brand portfolio and increased streetwear profile as well-positioned in an environment of an ongoing apparel demand rebound.

  • Price Action: VFC shares are trading lower by 0.11% at $47.25 on the last check Friday.

  • Photo Via Company

Latest Ratings for VFC

Date

Firm

Action

From

To

Jan 2022

Truist Securities

Maintains

Hold

Jan 2022

Deutsche Bank

Maintains

Buy

Jan 2022

Barclays

Maintains

Equal-Weight

View More Analyst Ratings for VFC

View the Latest Analyst Ratings

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