Piper Jaffray Expects Earnings Upside from VFC Corp (VFC) and Under Armor (UA)

Piper Jaffray analyst Erinn Murphy published an earnings preview note covering Wolverine World Wide (NYSE: WWW) , Under Armor (NYSE: UA) and VF Corp (NYSE: VFC). Strength is expected at UA and VFC.

Key quotes on each:

UA - recently stepped to the sidelines for UA following a slight slippage of the women’s results in the Teen Survey work and the recent CFO departure for Blue Apron. However, for the quarter, “we firmly believe the company will best expectations”. Neutral rating and $113 PT.

VFC – Murphy upgraded shares of VFC to Overweight last week following the Teen Survey results. She expects the company to meet expectations, on strength in denim and Europe. Expectations may be low as well and “inline results would be received positively from investors”. Overweight rating and $81 PT.

WWW - already preannounced that Q3 sales would be $45M below expectations but the focus now turns to how Q4 could be guided below the Street. Neutral Rating and $19 PT.

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