Market Overview

UPDATE: JP Morgan Raises PT to $48 on Abercrombie & Fitch; Waiting on Comps Clarity

Share:
Related ANF
90% Of Vetr Top Raters Hate Abercrombie & Fitch Stock
Zorrilla Gives A Few Long Ideas And A Couple Of Shorts
Aeropostale Executes Spring 2016: Too Little Too Late? (Seeking Alpha)

JP Morgan reiterated its Neutral rating on Abercrombie & Fitch (NYSE: ANF) while raising its price target from $35 to $48.

JP Morgan commented, "After setting low enough expectations, ANF stepped over their low sales bar with a "less-worse” -3% comp decline and better-than-expected gross margins. With concerns over brand equity and the company's inability to stabilize comps heading into the print, shares saw a significant short squeeze and although we believe estimates will likely continue to increase and current levels may continue to prove attractive, we are choosing to remain sidelined as we await topline consistency around international trends (particularly in Europe), which represent 30% of sales and 30%-40% of operating profits and clarity around the turn."

Abercrombie & Fitch closed at $44.40 on Friday.

Latest Ratings for ANF

DateFirmActionFromTo
Jan 2016WolfeUpgradesPeer PerformOutperform
Nov 2015Wolfe ResearchUpgradesUnderperformPeer Perform
Nov 2015Evercore ISI GroupUpgradesSellHold

View More Analyst Ratings for ANF
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ANF)

Get Benzinga's Newsletters