Abercrombie & Fitch lifts sales forecast on trendy apparel demand; lofty expectations hit shares
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10 reasons why you should own Abercrombie & Fitch stock: Citi
August 30, 2024 7:00 PM EDTCiti analysts upgraded Abercrombie & Fitch (NYSE: ANF) from Neutral to Buy, highlighting 10 compelling reasons why investors should consider owning the stock despite its recent sell-off in a note to clients on Friday.
After shares dropped 14% following a strong second-quarter performance that slightly missed lofty market expectations, Citi believes this decline offers a prime buying opportunity.
Here are Citi's 10 reasons why Abercrombie & Fitch remains a strong investment:
One... MoreJPMorgan Adds Abercrombie & Fitch (ANF) to Analyst Focus List as a Growth Idea
August 28, 2024 3:39 PM EDTJPMorgan analyst Matthew Boss reiterated an Overweight rating and $194.00 price target on Abercrombie & Fitch (NYSE: ANF).
The analyst comments "ANF reported 2Q EPS of $2.50 (~13% above Street $2.22) driven by: (i) consolidated revenues +21.2% Y/Y (above mgmts +mid-teens guide) with +double-digit comps every month of the quarter across both brands and all geographies, (ii) GPM expansion of +245bps Y/Y to 64.9% (above... More
CFRA Upgrades Abercrombie & Fitch (ANF) to Buy
August 28, 2024 11:18 AM EDTCFRA analyst Zachary Warring upgraded Abercrombie & Fitch (NYSE: ANF) from Hold to Buy with a price target of $198.00 (from $149.00).
The analyst comments "We raise our 12-month price target by $49 to $198, based on 17.2x our FY 26 (Jan.) EPS estimate and in line with the company's... More
