Teen clothing retailer Abercrombie & Fitch Co. (
) on Tuesday caught some tepid commentary from analysts at Goldman
The firm resumed coverage on ANF with a "Neutral" rating and $54
price target, suggesting a 14% upside to the stock's Monday closing
price of $47.31.
A Goldman analyst commented, "Our near-term tactical bias is
constructive, as we see healthy margin upside from cotton
deflation, new store mix as more European stores are opened, and
good merchandise positioning into holiday. Longer term our view is
less certain given some questions on strategic initiatives and the
impact to brand in both the US and Europe."
Abercrombie & Fitch shares were mostly flat in premarket
trading Tuesday. The stock has fallen about 3% since the beginning
The Bottom Line
Shares of Abercrombie & Fitch (
) have a 1.48% dividend yield, based on last night's closing stock
price of $47.31. The stock has technical support in the $39-$41
price area. If the shares can firm up, we see overhead resistance
around the $50 price level.
Abercrombie & Fitch Co. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.1 out of 5 stars.
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