Abercrombie & Fitch’s Target, Estimates Slashed at UBS (ANF)

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Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Wednesday saw its price target and earnings estimates lowered by analysts at UBS.

The firm said it now sees shares of ANF reaching $38, which represents a small 8% upside to the stock's Tuesday closing price of $35.05. UBS also cut its estimates for the company, noting that high inventory levels could force the retailer to slash merchandise prices through higher promotions. The firm left its "Neutral" rating unchanged.

Abercrombie shares fell 20 cents, or -0.6%, in premarket trading Wednesday.

The Bottom Line
Shares of ANF have a dividend yield of 2.00%, based on last night's closing stock price of $35.05. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $40 price level. We would remain on the sidelines for now.

Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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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