Will This Price Target Increase Help VF Corp (VFC) Today?

Story updated at 10 a.m. to reflect market activity.

NEW YORK (TheStreet) -- UBS raised its price target for VF Corp (VFC) to $70 from $64 Thursday.

Shares of VF Corp fell 0.2% to $61.55 in morning trading.

The firm maintained its "buy" rating for the apparel company. Analysts Michael Binetti, Steven Strycula, and K.C. Stumbaugh said clean retail inventories are good for fall orders and gross margin. The analysts also cited accelerating organic growth and high potential for M&A.

"We believe reiterated positive comments at our conf about the 2H14 outlook are based on encouraging early indications from retailers of planned orders for next fall-boosting our confidence in VFC's '14 guidance," the analysts wrote. "Importantly, we believe there's a high probability of M&A in '14-which should con't to support VFC's premium P/E. "

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TheStreet Ratings team rates VF CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate VF CORP (VFC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

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