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Fly News Breaks for May 28, 2019
VFC, KTB
May 28, 2019 | 08:52 EDT
Stifel analyst Jim Duffy started Kontoor Brands (KTB) with a Buy rating and $46 price target, telling investors that he is constructive on its "strong foundational position" in the Jeanswear market, relative valuation and the potential of growth and margin surprises. The recent spinoff from VF Corporation (VFC) has "Consumer Staple like business qualities," but with superior free cash flow and a 6%+ dividend yield that is unique in the apparel category, said Duffy.
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