Wells Fargo Reiterates Neutral Rating on Abercrombie & Fitch Co. on Reduced Q3 2013 Comp Estimate
In a report published Monday, Wells Fargo Securities analyst Paul Lejuez reiterated a Neutral rating on Abercrombie & Fitch Co. (NYSE: ANF).
In the report, Wells Fargo Securities noted, “We are reducing our Q3 2013 comp estimate from down 8-10% to down 9-11% and our EPS estimate from $0.48 to $0.39. Our FY2013E is now $1.87 vs. $2.03 previously and our FY2014E is. ANF is likely suffering from the same traffic and sales woes that are plaguing the teen sector this fall. Comps are likely to remain weak as we enter a challenging Holiday season, which should be marked by increased promo as retailers pull out all the stops to attract shoppers.”
Abercrombie & Fitch Co. closed on Friday at $34.20.
Latest Ratings for ANF
|Nov 2016||Deutsche Bank||Downgrades||Hold||Sell|
|Nov 2016||RBC Capital||Downgrades||Sector Perform||Underperform|
|Nov 2016||FBR Capital||Downgrades||Market Perform||Underperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.