VFC - Why VF Corp Stock Lagged the Market Today
2023-11-01 18:47:28 ET
Hardly for the first time in the recent past, VF Corp (NYSE: VFC) was socked with an analyst's price-target cut on Wednesday. That fresh blow stopped the clothing and footwear purveyor's share price from reaching the level of the benchmark S&P 500 index. It ticked only marginally higher and was outpaced by the index's barely over 1% gain.
Well before market open that day, Goldman Sachs pundit Brooke Roach took an axe to her VF Corp price target. She now believes the stock is worth $19 per share, notably down from her previous estimation of $24. She isn't quite out of the bullpen for the company just yet, as she maintained her buy recommendation despite the chop.
Roach's move is the latest in a series of revised (and more negative) analyst takes on VF Corp. One researcher, Williams Trading, went as far as to reduce its recommendation on the stock to hold; previously, it tagged the shares with a buy.
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Why VF Corp Stock Lagged the Market Today