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UPDATE: Jefferies Raises PT to $60 on Abercrombie & Fitch Following Strong Q3

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Jefferies reiterated its Buy rating on Abercrombie & Fitch (NYSE: ANF) and increased its price target from $50 to $60.

Jefferies commented, "3Q results were stellar with sequential sales improvement (both domestic and int'l) and better than expected margins. With these improvements likely sustainable into 4Q and beyond, ANF is at an inflection point and we believe the negative earnings revision cycle has ended. Meanwhile the LT story is still intact and valuation is very attractive despite the stock's gains intra-day."

Abercrombie & Fitch closed at $31.18 on Tuesday.

Latest Ratings for ANF

DateFirmActionFromTo
Sep 2014CitigroupMaintainsNeutral
Aug 2014Stifel NicolausUpgradesHoldBuy
Aug 2014WunderlichInitiates Coverage onBuy

View More Analyst Ratings for ANF
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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