Argus Downgrades Abercrombie & Fitch (ANF) to Sell
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Rating Summary:
10 Buy, 25 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 37
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Argus downgraded Abercrombie & Fitch (NYSE: ANF) from Hold to Sell.
The firm cut FY17 EPS estimate to $0.02 from $0.56 to reflects the company’s weaker-than-expected 3Q results and challenging sales outlook for the remainder of the year. They are cutting FY18 EPS estimate to $0.24 from $0.71. They no longer see the company returning to flat to positive comp sales performance in FY18, as the company’s rebranding process is not garnering the positive response that the firm had hoped to see.
For an analyst ratings summary and ratings history on Abercrombie & Fitch click here. For more ratings news on Abercrombie & Fitch click here.
Shares of Abercrombie & Fitch closed at $16.24 yesterday.
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