Analysts at Piper Jaffray on Friday released a analysis statement defending their “Overweight” rating on clothes store Abercrombie & Fitch Co. (ANF).The abercrombie fitch also Abercrombie Fitch FR Online backed its $86 value focus on on ANF, which suggests a 39% upside towards stock’s Thursday closing value of $61.88.A Piper Jaffray analyst commented, “Having visited shops in equally London and Milan, we are encouraged through the ongoing momentum and buzz surrounding the brands.
In the close to term, we carry on to think that there is abercrombie and fitch on sale upside within our Q4 EPS estimation of $2.00 granted the back-end weighted character belonging to the intercontinental shop openings slated for this year. As thorough below, we think there might be $0.08 to $0.10 in incremental EPS driven through the assumed 34 new Hollister’s in 2H and also the four new A&F flagships in Q4. Longer-term, we think int’l expansion of Abercrombie flagship shops and Hollister nearby mall shops will assistance 20-25% yearly top-line growth.”Abercrombie shares had been unchanged in premarket buying and selling Friday.The Bottom LineShares of abercrombie and fitch sale possess a 1.13% dividend yield, dependent on final night’s closing investment value of $61.88. The investment has specialized assistance during the $55-$60 value area. when the shares can company up, we see overhead resistance close to the $65-$70 value levels
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