Analysts at Morgan Stanley (NYSE: MS) upped their price target on shares of V.F. (NYSE: VFC) to $180.00 in a research report issued to clients and investors on Monday. The firm currently has an “overweight” rating on the stock.
The analysts wrote, “VFC posted upside to 1Q due largely to stronger than expected sales. We believe the larger takeaway from the quarter is that guidance remains conservative. We are raising our 2012 estimates as well as our price target to $180, which represents 17% upside from Friday’s close.”
VFC has been the subject of a number of other recent research reports. Analysts at Bank of America (NYSE: BAC) raised their price target on shares of V.F. from $160.00 to $170.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of V.F. in a research note to investors on Friday, April 13rd. They set a “neutral” rating on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of V.F. from $160.00 to $200.00 in a research note to investors on Thursday, April 5th. They now have an “overweight” rating on the stock.
Shares of V.F. traded down 1.39% during mid-day trading on Monday, hitting $152.05. V.F. has a 52 week low of $91.60 and a 52 week high of $155.84. The company has a market cap of $16.817 billion and a P/E ratio of 19.32.
The company last announced its quarterly results on Friday, April 27th. It reported $1.94 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.87 EPS by $0.07. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, analysts predict that V.F. will post $3.56 earnings per share next quarter.
V.F. Corporation (VF) is a global apparel company based in the United States. VF designs and manufactures or sources from independent contractors a variety of apparel and footwear for all ages.