Piper Sandler has upgraded VF Corp's stock rating from neutral to overweight and raised its price target from $16 to $20, indicating a potential upside of approximately 27% from its recent closing price.
Analyst Anna Andreeva noted that Vans has maintained its ranking as a favorite footwear brand among male teens and has improved its standing among upper-income young men, moving up to the ninth position. The investment firm's Fall Teen Survey, which gathered responses from around 9,000 teenagers, shows that Vans is the seventh most popular footwear brand overall among teen males.
Additionally, foot traffic in Vans stores has reached its highest level since February 2023, suggesting a positive trend in consumer engagement. This optimistic outlook contrasts with the broader consensus on Wall Street, where 13 out of 25 analysts have a hold rating on VF Corp, while only 10 recommend buying the stock.
Despite a nearly 11% decline in shares this year, the renewed interest in Vans could signal a turnaround for the brand and its parent company