Jefferies Reiterates Hold on American Eagle Outfitters on 4Q Results, 1Q Guidance
In a report published Wednesday, Jefferies reiterated its Hold rating and $22.00 price target on American Eagle Outfitters (NYSE: AEO).
Jefferies noted, “We downgraded AEO at the beginning of 2013 because of difficult compares, lack of catalysts, and a strong run in the stock already during 2012 (up ~50%). While 4Q results were mostly in-line, 1Q guidance was below expectations as seen by the stock's downward intra-day move. In order to become more positive on the stock we need to see even cheaper valuation.”
American Eagle Outfitters closed on Tuesday at $20.06.
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