Piper Jaffray reiterated its Overweight rating on Abercrombie and Fitch ANF. At the same time, the rating agency decided to leave its price target on the company's stock unchanged at $85.
In a research report published today, Piper Jaffray states, "Having revisited our international A&F flagship growth assumptions, we are
updating our model to more accurately reflect the flow-through of both expenses
and revenue contribution of the planned new stores for the balance of this year and
next year... Slight model adjustments to FQ2
and FQ4; leaving FY12 unchanged at $3.27 (consensus: $3.18); FY13 moves up
from $4.71 to $4.74 (consensus $4.66). We reiterate our Overweight rating and
believe the recent pullback presents a particularly compelling buying opportunity."
On Wednesday, Abercrombie and Fitch lost 3.03% of its value to finish the day at $65.87.
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Posted In: Analyst ColorAnalyst RatingsAbercrombie and FitchApparel RetailConsumer DiscretionaryPiper Jaffray
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