Goldman Sachs Resumes Coverage of VF Corp with a “Buy” Rating (VFC)
Goldman Sachs reported on Thursday that it has resumed coverage of apparel company, VF Corp (VFC) with a “Buy” rating.
The firm has resumed coverage of VFC with a “Buy” rating and $200 price target. This price target suggests a 17% increase from the stock’s current price of $165.96.
Goldman Sachs called the company, “a powerful brand stories executing on a micro level, driving long-term sales and earnings across the portfolio.”
Analysts from the firm have high expectations for VFC due to its ability to drive organic growth in its brand portfolio by filling product and distribution space while maintaining quality. The firm was also impressed with the company’s supply chain and margin expansion. The firm also mentioned the company’s acquisition opportunities for high quality brands.
Analysts expect the firm to raise dividends by 70% in the next two year, which may equal a $6 annualized dividend.
VF Corp shares were mostly flat during premarket trading Thursday. The stock has increased 13% in the past year.
The Bottom Line
Shares of VF Corp (VFC) have a 2.10% yield, based on Wednesday’s closing price of $165.96.
VF Corp (VFC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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