VF Corporation (NYSE: VFC) might soon take a double-digit hit to its stock price, if a recent analyst prognostication comes true. On Monday, Deutsche Bank's Paul Trussell lowered his price target on the stock, to $49 per share, while maintaining his hold recommendation on the stock. That isn't a significant reduction, as his previous level was $50. However that $49 is 13% lower than the current share price.
Like many consumer goods companies trying to maintain their businesses during the SARS-CoV-2 coronavirus outbreak, VF had fallen out of favor somewhat with investors. This is due in no small part to the company's recently reported Q4 of fiscal 2020, in which revenue dipped by 2% on a year-over-year basis and non-GAAP (adjusted) earnings per share plummeted 70% to $0.10.
Both headline numbers missed the average analyst estimates.
Source Fool.com