Morgan Stanley Sees Balanced Risk/Reward For Abercrombie & Fitch Co.

In a report published Monday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Equal-Weight rating and $38.00 price target on

. In the report, Morgan Stanley noted, “We believe management is focused on the correct long-term initiatives. However, fast fashion competitors and an anemic consumer spending environment leave us cautious. At 13x FY15 EPS, we see a balanced risk/reward and remain Equal-weight.” Abercrombie & Fitch Co. closed on Friday at $35.86.