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Fly News Breaks for August 14, 2017
VFC
Aug 14, 2017 | 15:02 EDT
As previously reported, Canaccord upgraded VF Corp. to Buy from Hold and raised its price target to $73 from $58. Analyst Camila Lyon said VFC's acquisition of Williamson-Dickie is more than just accretive as it doubles VFC's workwear business to $1.7B, allows the company to leverage Williamson-Dickie's international and DTC presence to grow VFC's pre-exising workwear brands, and will derive supply chain and manufacturing synergies while also leveraging its tax advantaged structure.
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