BMO Capital Cut Price Target on Abercrombie & Fitch (ANF) to $19 Following 2Q

August 31, 2016 9:21 AM EDT
Get Alerts ANF Hot Sheet
Price: $15.08 -2.08%

Rating Summary:
    14 Buy, 25 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
Trade ANF Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

BMO Capital maintained a Market Perform rating on Abercrombie & Fitch (NYSE: ANF), and cut the price target to $19.00 (from $20.00), following the company's 2Q earnings report. ANF reported adjusted EPS of ($0.25) vs. the Street expectation of ($0.20). The miss came primarily from a lower-than-expected gross margin which was driven by higher AUCs, partially offset by higher AUR.

Analyst John Morris commented, "ANF reported worse-than-expected earnings driven by weak tourism spending that was mostly concentrated in the A&F brand. While we believe that there is a turnaround story for the company, we remain on the sidelines for now with our limited visibility on the pace of the core A&F division turnaround. We are reducing our 2016 EPS estimate to $0.61 from $0.71 and are taking our price target down to $19, which reflects nearly 21x our 2017 EPS estimate."

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 $18.29 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

BMO Capital, Earnings

Add Your Comment