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Why UBS Lowered Estimates on VF Corp (VFC)

Tickers in this article: VFC

NEW YORK (TheStreet) -- UBS has lowered its price target on VF Corp  after earnings came in lower than expected. The investment firm has given the owner of Vans and North Face a price target of $64 from $69, but reiterated a "buy" rating. 

"VFC's stock pullback is due to 1) a 4Q EPS miss despite favorable conditions for winter brands; 2) valuation (currently 18.1x fwd EPS vs. 15.2x 3-yr avg); and 3) concerns that rev guidance is not conservative (after missing rev guidance 5 quarters in a row)," wrote analyst Michael Binetti in the report. 

As such, UBS has trimmed its 2014 EPS to $3.10 from $3.17, "largely due to slower revs in 1H amid ongoing unfavorable weather."

Must Read: North Face, Vans at Record High, But VF Corp Falls on Hype

TheStreet Ratings team rates VF CORP as a Buy with a ratings score of A+. The 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 solid stock price performance, growth in earnings per share, revenue growth, reasonable valuation levels and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."