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Fly News Breaks for August 14, 2018
VFC
Aug 14, 2018 | 08:32 EDT
Baird analyst Jonathan Komp believes the selloff in reaction to VF Corp's plans for a spinoff of Jeanswear is overdone. The analyst said the spin represents a strategic long-term decision that will result in a high growth/high margin remaining company. He believes the remaining company can attract healthy premium valuation multiples. Komp reiterated his Outperform rating and $103 price target on VF Corp. shares.