12 Best Luxury Stocks to Buy Now

9. V.F. Corporation (NYSE:VFC)

Number of Hedge Fund Holders: 33

V.F. Corporation (NYSE:VFC) is one of the best luxury stocks to buy now. On February 2, JPMorgan lifted the price target on V.F. Corporation (NYSE:VFC) to $19 from $17 while maintaining a Neutral rating on the shares.

In another development, Williams Trading reaffirmed a Sell rating on the stock on January 30, setting a price target of $14.00 and citing the company’s questionable long-term targets and execution risk. The firm considers V.F. Corporation’s (NYSE:VFC) fiscal year 28 operating margin goal of 10% to be unrealistic, especially since the recent outperformance in The North Face appears heavily driven by the weather and unlikely to be a long-term growth engine at the scale currently envisioned by management.

It also cited the ongoing weakness at Vans, stating that despite the higher average selling prices and digital growth, performance is being affected by weak trends in company-owned stores with reliance on promotions, which, according to the firm, shows limited underlying brand health.

The same day, Piper Sandler also adjusted the price target on V.F. Corporation (NYSE:VFC) to $18 from $14 while maintaining a Neutral rating on the shares following an investor meeting with the company’s management team.

V.F. Corporation (NYSE:VFC) is a fashion company that owns and operates a range of brands in the apparel, outerwear, footwear, backpack, luggage, and accessories categories. Its brands include The North Face, Vans, JanSport, Timberland, Kipling, and more.