Sterne Agee Maintains Neutral Rating and $15 PT on American Eagle Outfitters

A report from Sterne Agee reiterates its Neutral rating and $15 price target on American Eagle Outfitters AEO. The report states, “We anticipate AEO will provide Q4 guidance and comment on holiday sales trends to date on the call. AEO appeared to be one of the big winners on Black Friday, as a 40% off promotion up from 20% last year drove massive traffic to stores and long lines at the registers. AEO was slightly less promotional than Abercrombie (ANF-$46.93-NR), which offered 50% off before 9 a.m. and 40% off thereafter, and Aeropostale (ARO-$15.02-Neutral), which offered 50% off plus an extra 20% off (for a total 60% discount).” AEO closed yesterday at $13.55.