VF Corp. (NYSE:VFC) rose sharply on Monday as Williams Trading moved from Sell to Buy.
The firm said that the Vans parent has priced in the downside for consumers spending at present, leaving upside available. The analysts indicated that a recent sell-side roundtable emphasized profitability, with management voicing confidence in 2024 targets.
Analyst Sam Poser indicated that this commentary also increased his confidence in the company to increase efficiency. As freight costs fall and cost-cuts take effect, margin improvement should promote more optimism on the stock.
The team assigned a $27 price target to the stock alongside the upgrade. Shares of VF Corp. (VFC) rose 2.7% shortly after the market open on Monday.
Read more on Stifel’s recent upgrade of the stock.