Brean Murray Carret & Co. Reiterates a 'Buy' on Abercrombie & Fitch (ANF); Risk/Reward Highly Impressive; Q1 Preview

Brean Murray Carret & Co. reiterates a 'Buy' on Abercrombie & Fitch (NYSE: ANF) price target of $65.00.

Analyst, Eric Beder, said, "Given the relative unimportance to EPS for the year, we frankly, do not care whether the company achieves or misses or beats our slightly below consensus projection; the key focus for us will be inventory levels and how Europe is holding up. We are confident, based on our store tours, that Abercrombie has aggressively cleared product and reached a somewhat more balanced product mix, which should allow for increased investor confidence that back half projections can be achieved. Further, we believe European fears are overblown..."

Brean Murray sees Q1 EPS of $0.01.

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 $46.62 yesterday.

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