Abercrombie & Fitch Co. Shares Lower Following Coverage From Mizuho/Piper Jaffray

Shares of Abercrombie & Fitch Co ANF are trending lower following coverage from two firms on Monday.

Mizuho Securities upgraded shares of Abercrombie to a Buy from Neutral and the raised price target to $45 from $43. Betty Chen notes fashion improvements, revamped marketing tactics, improving margins, diligent cost-cutting efforts, and potential share repurchases are all positives moving forward.

On the other hand, analysts at Piper Jaffray downgraded Abercrombie shares to Neutral from Overweight and lowered the price target to $35 from $45. Neely Tamminga noted worsening international selling conditions and a less accentuated logo on the company’s products are negatives.

Shares of Abercrombie opened at approximately $35.82 and have trading lower since the open; currently $34.89 down 2.6 percent.