Goldman Sachs Upgrades Abercrombie & Fitch (ANF) to Conviction Buy
More News related to ANF
- Notable Analyst Rating Changes 11/16: COH, JWN, GNK, ESEA, SVA, YGE Upgraded; PARD, GPS, JCP, DLTR Downgraded
- Caris & Co Upgrades Abercrombie & Fitch (ANF) to Average
- Highlights From ANF's Q3 Conference Call: Net Sales Declined 15%, Comp Store Sales Fell 22%
- While Sales Fall, Abercrombie and Fitch (ANF) Posts Better-Than-Expected EPS
- Abercrombie & Fitch (ANF) Beats Q3 Views by 10c, Posts non-GAAP EPS of $0.30
Goldman Sachs upgrades Abercrombie & Fitch (NYSE: ANF) from Neutral to Buy and added the stock to their Conviction List Buy. The firm raised their 6-month price target from $36 to $45, implying 29% upside.
The firm cited a combination of significant longer-term growth drivers and specific drivers for improving sales trends in existing stores. Goldman sees a bigger catalyst for shares in the coming quarters as the pace of openings is accelerating notably vs. last 12 months and domestic profit erosion should be much less of an offset thanks to these drivers.
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