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Wall Street sets North Face stock price for the next 12 months

Wall Street sets North Face stock price for the next 12 months

The parent company of North Face, VF Corp (NYSE: VFC), experienced a significant decline in its stock price following criticism related to a pride-themed advertisement featuring activist Pattie Gonia. This drop led to a loss of over 20% in the span of one month, with the stock briefly reaching as low as $16.84 on June 1.

However, there has been a recent rebound in VFC stock. On June 1, it climbed back above $17 and has shown positive momentum over the past five days, adding $1.59 (9.09%) to reach a value above $19.09. On June 6 alone, the stock gained $1.17 (6.53%), signaling a partial resurgence.

Despite facing challenges throughout the year, the consensus rating on Wall Street for VFC stock remains a ‘buy,’ as indicated by the views of 23 analysts over the past three months. More specifically, 8 analysts consider the stock a ‘strong buy,’ 1 believes it is a ‘buy,’ and 12 advise holding the stock. However, two analysts have assigned a ‘sell’ or ‘strong sell’ rating to VFC.

VFC 12-month price target data. Source: Finbold

Looking ahead, 19 stock market experts have provided their 1-year price forecasts for VFC, with an average price target of $24.60. This represents a 28% increase from the current stock price. Among these predictions, the highest estimate stands at $38 per share, while the lowest estimate is $18 per share.

It is worth noting that several analysts from prominent Wall Street firms have recently trimmed their price targets for VFC downward following the company’s soft earnings report and the controversy surrounding its recent advertisement.

Chart analysis

Over the past month, VFC has displayed a considerable trading range, fluctuating between $16.77 and $22.63, indicating significant volatility. Presently, the stock is trading in the middle of this range, suggesting the possibility of encountering resistance above.

There is a resistance zone ranging from $19.10 to $19.41, formed by the convergence of multiple trend lines and important moving averages across various time frames. 

VFC 7-day price data. Source: Finbold

It is also important to note that VFC is currently positioned near the lower end of its 52-week range, which may raise concerns. Particularly, this is noteworthy given that the S&P500 Index is currently reaching new 52-week highs, highlighting a potential divergence in performance.

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