Abercrombie & Fitch and The Gap Both Upgraded at Piper Jaffray (ANF, GPS)

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Analysts at Piper Jaffray on Friday got a bit more bullish on two apparel retailers, Abercrombie & Fitch Co. ( ANF ) and The Gap Inc. ( GPS ).

The firm boosted its earnings estimates for ANF and raised its price target to $69, which implies a 23% upside to the stock's Thursday closing price of $56.02. Piper Jaffray also maintained its "Overweight" rating on Abercrombie, citing higher realized sales.

Meanwhile, the analyst raised its estimates for GPS through 2012, citing successful promotions as a sales driver. Piper Jaffray also maintained its "Overweight" rating on The Gap and introduced a new $25 price target, which implies a 15% upside to the stock's Thursday closing price of $21.67.

Abercrombie shares fell 30 cents, or -0.5%, in premarket trading Friday, while The Gap shares were mostly flat.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 1.25% dividend yield, based on last night's closing stock price of $56.02.
Shares of Gap, Inc. ( GPS ) have a 1.85% dividend yield, based on last night's closing stock price of $21.67.

Abercrombie & Fitch Co. ( ANF ) and The Gap Inc. ( GPS ) are both rated "Neutral," holding Dividend.com DARS™ Ratings of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks
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