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

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Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Monday saw its shares upgraded to Goldman Sachs' prestigious "Conviction Buy" List.

The firm also set a $70 price target on ANF, which implies a 25% upside to the stock's Friday closing price of $56.15.

Additionally, Goldman Sachs boosted its 2010 EPS estimate for the company from $1.84 to $2.03, and 2011 EPS from $2.73 to $3.38.

Abercrombie shares rose 78 cents, or +1.4%, in premarket trading Monday.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 1.25% dividend yield, based on Friday's closing stock price of $56.15. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $60-$61 price levels.

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

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