Markets & Finance

Prudential Ups V.F. Corp. to Overweight


Prudential upgraded V.F. Corporation (VFC) to overweight from neutral, after the company on Monday said it raised first quarter earnings per share (EPS) guidance.

Analyst Lizabeth Dunn says the company cited strength in its denim business, among other things. She says an earlier downgrade had been based on her concerns about potential reductions in VF's denim business at Wal-Mart Stores (WMT), fueled by reports from other Wal-Mart suppliers that the company is stepping up efforts to control inventory. She sees $1.14 first quarter EPS and $4.94 in 2006 before 1 times charges. She has a $65 stock price target.


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