FBR Capial Added American Eagle Outfitters (AEO) To Its Top Picks List
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FBR Capial added American Eagle Outfitters, Inc. (NYSE: AEO) to its Top Picks list, saying the company is hitting the mark with product. The firm reiterated their Outperform rating and $24 price target.
The firm cited "the company will capitalize on the plaid trend, (2) comps are on the verge of going sustainably positive, and (3) margins will begin to expand in the fourth quarter."
FBR said a product turnaround is in the works and the company is capitalizing on the trends in plaid. They believe AEO is shifting from a "commoditized" teen retailer selling mostly basics to one that has more fashion content in its product and is differentiated.
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