S&P Capital IQ Reiterates its BUY Rating on VF Corporation

October 25 00:00 2011

New York, October 25 (RainbowNewsLine.com) – Analyst Jason Asaeda of S&P Capital IQ reiterates his BUY rating on the shares of VF Corporation (NYSE:VFC), while raising his estimates for the company. The target price has been raised from $145 to $150.

Analyst Jason Asaeda, in a research report published yesterday, mentions that the company has reported its Q3 EPS ahead of the estimates and the consensus due to better-than-expected accretion from Timberland acquisition. The Timberland, The North Face and Vans brands are benchmarks for product innovation, quality and style in outdoor and action sports markets, the analyst says. The analyst believes that the company is benefitting from category leadership in jeanswear with Lee and Wrangler brands. The EPS estimates for 2011 and 2012 have been raised from $7.85 to $8.10 and from $9.00 to $9.10, respectively.