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Investing.com - VF Corp. (NYSE:VFC), the $5.4 billion apparel and footwear company, received an upgrade from Baird on Tuesday, with the firm raising its rating from Neutral to Outperform and increasing its price target to $20.00 from $14.00. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis.
The upgrade comes as Baird sees potential for "sequentially improving financial performance" at VF Corp’s Vans brand as reset-related financial headwinds subside. The firm also cited "more interesting product and social media activity" that could attract consumer attention.
Baird highlighted ongoing cost reductions and gradual debt reduction through free cash flow as additional factors that could benefit the apparel and footwear company. The firm suggested any inflection in the Vans brand could drive a more positive view of VF Corp as a way to gain exposure to a potentially improved macroeconomic environment heading into calendar 2026.
The stock’s significant decline of 53% from its 52-week highs reflects "broadly negative sentiment," according to Baird’s analysis. This pessimism may limit near-term downside risk while creating "substantial upside value for the equity."
Baird acknowledged uncertainty about whether a healthier skate shoe trend would emerge over the next 6-12 months, though it noted this would be the "clearest path" to improving sentiment toward VF Corp.
In other recent news, VF Corporation reported its first-quarter earnings for fiscal year 2026, surpassing market expectations. The company posted an adjusted loss per share of $0.24, which was better than the forecasted $0.33, resulting in a positive surprise of 27.27%. Revenue also exceeded expectations, coming in at $1.8 billion compared to the anticipated $1.7 billion. Despite this positive earnings report, BNP Paribas Exane downgraded VF Corp.’s stock rating from Neutral to Underperform. The downgrade reflects concerns about slowing performance in The North Face and Timberland brands, with ongoing challenges for the Vans brand. Additionally, Ibotta, Inc. appointed Matt Puckett, former CFO of VF Corporation, as its new Chief Financial Officer. Puckett’s appointment is effective as of August 25, following his 23-year tenure at VF Corp. These developments provide a snapshot of recent changes in leadership and financial performance for both companies.
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