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Fly News Breaks for May 21, 2018
VFC
May 21, 2018 | 07:34 EDT
Argus analyst Mike Jaffe initiated VF Corp with a Buy rating and a price target of $101, saying the company is on track to post solid earnings over the next several years amid "strong demand for Vans and North Face products, as well as from its growing direct-to consumer and international businesses." The analyst notes that while the valuation on the stock at 21.7-times forward earnings is at a premium to 16.0-times peer average, it is justified by his expectation of 14% annual earnings growth for the next 5 years relative to 9.6% for the peers.
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