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Investing.com - BNP Paribas (OTC:BNPQY) Exane downgraded VF Corp. (NYSE:VFC) from Neutral to Underperform on Thursday, lowering its price target to $10.00 from $11.00 following the company’s first-quarter fiscal 2026 results. The stock, currently trading at $12.72, has experienced significant volatility, with InvestingPro data showing a steep 50.45% decline over the past six months.
The downgrade reflects concerns about slowing performance in The North Face and Timberland brands, while the Vans brand continues to face challenges, according to the research firm.
BNP Paribas Exane also cited stalling margins and risks to VF Corp.’s fiscal 2026 cash flow guidance as factors in its decision to lower the rating.
Additional concerns include VF Corp.’s transition from an unsecured revolver to an asset-backed revolving loan, as well as a pension termination that could indicate further financial strain.
The research firm outlined a potential downside scenario with a price target as low as $5.00, noting that the downgrade decision was not made lightly.
In other recent news, VF Corporation reported its first-quarter earnings for fiscal year 2026, exceeding market expectations. The company posted an adjusted loss per share of $0.24, which was better than the forecasted loss of $0.33, providing a positive surprise of 27.27%. Additionally, VF Corporation’s revenue reached $1.8 billion, surpassing the anticipated $1.7 billion. These results highlight the company’s stronger-than-expected performance in the quarter. The earnings report has drawn attention from investors and analysts alike. Although the stock’s price movement is not covered here, the earnings performance itself was a notable development. As the company continues into the fiscal year, these results set a significant benchmark.
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