Piper Jaffray Maintains Neutral, $13 Target on American Eagle
Piper Jaffray reiterates its Neutral rating and $13 target on American Eagle Outfitters (NYSE: AEO) on Q4 guide above expectations driven by continued top-line momentum.
Piper Jaffray says, “On the heels of the company's in line Q3 earnings report in which the company delivered $0.27 in EPS, at the high end of the recently revised $0.26-$0.27 range, management issued FQ4 EPS guidance above consensus. FQ4 EPS is projected in the range of $0.40 to $0.44 which compares to our estimate of $0.40 and the Street's $0.39. With a +5% comp in the quarter (an acceleration from 1H) we are encouraged by management's indication that the Thanksgiving weekend trends were strong, a positive on AEO shares today.”
AEO closed at $13.43 per share on Tuesday.
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