- Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on VF Corp (NYSE:VFC) with a price target of $70 (48% upside).
- The analyst expects Q1 FY23 revenue growth to exceed the consensus growth estimate of 2%.
- Weakness in China and softer Vans revenue are expected to lag in the first quarter before improving as the year progresses.
- While the current environment in China is challenging, the company continues to see significant distribution and brand awareness opportunities in China for all of its brands.
- Telsey said the company continued to face elevated freight costs, port congestion, labor shortages, and equipment constraints.
- Despite macro pressures, the analyst continues to view the company’s brand portfolio and increased streetwear profile as well-positioned in an environment of an ongoing apparel demand rebound.
- Price Action: VFC shares are trading lower by 0.11% at $47.25 on the last check Friday.
- Photo Via Company
Tesla Stock Is Tumbling Tuesday: What’s Going On?
Tesla said it produced 433,371 vehicles in the first quarter, down from 440,808 year-over-year. The EV maker delivered 386,810 vehicles last quarter, down from 422,875 year-over-year. In the fourth quarter of 2023, Tesla reported production of 494,989 vehicles and 484,507 deliveries.
