VF Corp VFC introduced its FY27 long-term strategic growth plan, with revenue five-year compounded annual growth rate (CAGR) up mid- to high single-digit % in constant dollars.
VF Corp cut its FY23 adjusted EPS outlook to $2.60 – $2.70 (consensus $3.04) from the previous guidance of $3.05 – $3.15. The company also reduced its FY23 adjusted gross margin and adjusted operating margin forecast.
VF Corp shares fell 6.9% to close at $32.66 on Wednesday.
These analysts made changes to their price targets on VF Corp after the company cut its FY23 EPS guidance below analyst estimates.
- Telsey Advisory Group cut price target on VF Corp from $65 to $50. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating on the stock.
- BMO Capital lowered VF Corp’s price target from $45 to $33. BMO Capital analyst Simeon Siegel maintained the stock with a Market Perform.
- Goldman Sachs reduced VF Corp price target from $35 to $30. Goldman Sachs analyst Brooke Roach maintained a Sell rating on the stock.
- Credit Suisse cut price target on the stock from $59 to $45. Credit Suisse analyst Michael Binetti maintained VF Corp with an Outperform.
- Citigroup lowered the price target on the stock from $47 to $35. Citigroup analyst Paul Lejuez maintained the stock with a Neutral.
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