Benzinga - VF Corp (NYSE: VFC) is among the three dividend stocks recommended by Wall Street’s most accurate analysts.
The stock is approaching an inflection point, with most catalysts now being "weighted to the upside, according to Goldman Sachs."
The VF Analyst: Brooke Roach upgraded the rating for VF from a Sell to a Buy rating, while raising the price target from $26 to $27.
The VF Thesis: The stock is poised for a relative outperformance, given that the company’s strategic initiatives have improved the outlook for profitability, Roach said in the upgrade note.
Check out other analyst stock ratings.
“A sequentially stronger new product innovation pipeline at Vans, which combined with better retail merchandising and wholesale distribution optimization should help stem declines in North America revenues,” the analyst wrote.
“Enhanced operational focus, with better inventory management and cost control delivering stronger FCF in FY24,” he added.
After appointing new leaders at Vans, Dickies, and emerging brands, VF is in discussions to find a new CEO, Roach further mentioned.
VFC Price Action: Shares of VF were up 4.49% to $22.82 at the time of publication on Friday.
Now Read: Amazon's Pre-Layoff Payroll Peek-a-Boo: The Massive Salaries Of Engineers, Data Scientists, Managers And Others
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.