Posted 11/25/2023, 1:26:25 PM
V.F. Corp Stock Upgraded on Optimism for Turnaround Plan After Three Years of Declines
- Shares of V.F. Corporation have been sliding for three years, down 80% since 2020
- Last month's earnings report showed a drop in revenue and cash flow guidance
- Management launched an ambitious turnaround plan called Reinvent to cut costs
- JP Morgan upgraded the stock rating from Underweight to Neutral
- Analyst sees potential for a profit turnaround in the next two years if execution goes well