What’s The Deal, V.F. Corp.?
It’s time for V.F. Corp.’s long, sleepy summer to come to an end. In a sign Wall Street is growing more impatient with the maker of North Face jackets and Timberland boots, research analysts at DA Davidson on Tuesday downgraded the company to “neutral” from “buy,” following a similar downgrade Friday by Buckingham Research. Both shops cited the need for VF to make good on its deal-making promises in order to fuel growth.”Absent an acquisition, upside will be difficult to come by,” Davidson analysts wrote Tuesday. Indeed, VF shares are down 16 percent in the past year, compared to a 13 percent gain in the S&P 500. That marks a stark turnaround from a 274 percent gain in VF shares over the previous five years. Read more at Bloomberg.