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Fly News Breaks for January 11, 2016
VFC
Jan 11, 2016 | 08:52 EDT
Morgan Stanley analyst Jay Sole downgraded VF Corp to Underweight and lowered his price target to $58 from $66 on shares. Sole lowered its long-term EPS CAGR forecast to 10% from $17% and said the North Face US outerwear market share has been stagnent at around 42% and Timberland has 40% of the US men's boot market, but little growth elsewhere, and sees risk to VF's premium multiple.
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