VF Corp. Raised by double upgrade from Williams Trading (NYSE:VFC)
VF Joint Stock Company (NYSE:VFC) surged on Monday as Williams Trading switched from Sell to Buy.
The company said Vans’ parent company has priced it low for existing consumer spending, leaving incentives available. Analysts point out that a recent seller The roundtable emphasized profitability, with management expressing confidence in the 2024 goals.
Analyst Sam Poser pointed out that the comment also increased his confidence in the company to increase efficiency. As shipping costs fall and cost cuts take effect, improving margins should spur more optimism for stocks.
The team has assigned a $27 price target for the stock along with the upgrade. Shares of VF Corp. (VFC) rose 2.7% shortly after the market opened on Monday.
Read more about Stifel’s recent stock upgrade.