Piper Sandler upgrades VF Corp to 'overweight', shares rise
BUZZ-Piper Sandler upgrades VF Corp to 'overweight', shares rise
** Shares of apparel retailer VF Corp VFC.N rise 3% to $16.27 in premarket trading
** Piper Sandler upgrades stock to "overweight" from "neutral"; raises PT to $20 from $16, representing a 26.6% upside to the stock's last close of $15.79
** Brokerage cites Vans' ranking as a favorite footwear brand among male consumers holding steady, while improving among higher-income shoppers
** Combined with stronger direct-to-consumer trends, this suggests brand interest may have bottomed and could return to growth as new products gain traction across wholesale channels through fiscal 2027 and 2028, it adds
** 9 of 25 brokerages rate the stock "buy" or higher, 14 "hold" and 2 "sell" or lower; their median PT is $16 - LSEG-compiled data
** As of last day's close, stock down 12.6% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))
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Piper Sandler upgrades VF Corp to 'overweight', shares rise