November 19, 2012 at 09:01 AM EST
DA Davidson Analysts Downgrade V.F. Corp to “Neutral” Rating (VFC)

On Monday apparel manufacturer V.F. Corporation (VFC) was downgraded by analysts at DA Davidson.

The analysts downgraded VFC from “Buy” to “Neutral” with a price target of $169. The price target is a +8.5% increase to Friday’s closing price of $155.82.

V.F. Corp shares were down 92 cents, or -0.59%, in premarket trading on Monday. The stock is up +22.7% year to date.

The Bottom Line
Shares of V.F. Corp (VFC) have a 2.23% dividend yield, based on Friday’s closing stock price of $155.82. The stock has technical support in the $145-$150 price area. If the shares can firm up, we see overhead resistance around the $160-$163 price levels.

V.F. Corporation (VFC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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