{"id":4561,"date":"2009-01-26T09:28:39","date_gmt":"2009-01-26T17:28:39","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=4561"},"modified":"2009-01-26T09:31:36","modified_gmt":"2009-01-26T17:31:36","slug":"citi-says-buy-vf-corp","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=4561","title":{"rendered":"Citi Says Buy VF Corp"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/01\/vfcorp.jpg\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/01\/vfcorp.jpg','popup','width=176,height=109,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/01\/vfcorp-tm.jpg\" height=\"123\" width=\"200\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"Vfcorp\" \/><\/a>We&#8217;ve heard all the rumors that everyone has been quoting lately, and we&#8217;re not sure we&#8217;d put our money on their lines, but <strong>Citi<\/strong> is saying that <strong><a href=\"http:\/\/www.vfc.com\/\" target=\"_blank\">VF Corp<\/a><\/strong> could be a good stock to purchase and they&#8217;ve reiterating their &#8220;buy&#8221; raiting on the stock with a target of $74.<\/p>\n<blockquote><p>Citi analyst says, &#8220;VFC may be close to acquiring skate brand <strong><a href=\"http:\/\/www.dcshoes.com\/\" target=\"_blank\">DC Shoes<\/a><\/strong> from <strong><a href=\"http:\/\/www.quiksilver.com\/\" target=\"_blank\">Quiksilver<\/a><\/strong> (NYSE: ZQK), according to WWD reports on Friday. We think this could be a positive acquisition for four reasons:<br \/>\n1) The brand fits well within VFC\u2019s newly created Action Sports Americas coalition, and we think there are opptys to create synergies w\/ its Vans &#38; Reef brands, 2) VFC will leverage its global sourcing and distribution to further grow the brand like previous acquisitions; 3) VFC is likely to get an attractive price as a result of market valuations and ZQK\u2019s balance sheet; and 4) We think the deal would be slightly accretive, w\/out impacting VFC\u2019s dividend or our est. of ~$200M in repurchases for FY09.&#8221;<\/p><\/blockquote>\n<p>Since we don&#8217;t buy, sell, or own action sports stocks we&#8217;re going to sit this one out from the sidelines. VF is up $1.24 right now, but the whole market is up.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.streetinsider.com\/Analyst+Comments\/Citi+Reiterates+a+Buy+on+VF+Corp+(VFC),+Comments+on+Potential+Acquisition+of+DC+Shoes+From+Quiksilver+(ZQK)\/4328212.html\" target=\"_blank\">The Street Insider<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;ve heard all the rumors that everyone has been quoting lately, and we&#8217;re not sure we&#8217;d put our money on their lines, but Citi is saying that VF Corp could be a good stock to purchase and they&#8217;ve reiterating their &#8220;buy&#8221; raiting on the stock with a target of $74. Citi analyst says, &#8220;VFC may [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/4561"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4561"}],"version-history":[{"count":2,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/4561\/revisions"}],"predecessor-version":[{"id":4565,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/4561\/revisions\/4565"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4561"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}