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Abercrombie & Fitch Upgraded to “Buy” at UBS (ANF)

By Dividend.com,  May 01, 2012, 09:46:02 AM EDT

Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Tuesday caught a big upgrade from analysts at UBS.

The firm said it boosted its rating on ANF from "Neutral" to "Buy" with a $66 price target, suggesting a nearly 32% upside to the stock's Monday closing price of $50.17. UBS noted the company's trends have stabilized and thus it offers a favorable risk/reward at current levels.

Abercrombie & Fitch shares rose $2.30, or +4.6%, in morning trading Tuesday.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 1.40% dividend yield, based on last night's closing stock price of $50.17. The stock has technical support in the $45 price area. If the shares can firm up, we see overhead resistance around the $53-$56 price levels.

Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ANF



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