Apparel Company VF's Fortune Will Not Turn For The Better, Says Analyst

Wedbush analyst Tom Nikic reiterated a Neutral rating on VF Corp shares, lowering the price target from $15.5 to $13. Nikic's checks suggest continued business challenges, with Vans being a significant issue. The analyst cut FY24-26 EPS forecasts and noted declining e-commerce traffic for The North Face and Vans. The company's highly-levered balance sheet adds further pressure.