Jefferies Says Buy Abercrombie & Fitch (ANF) Ahead of Q4 Results, Bad News Priced In
ANF Hot Sheet
Rating Summary:12 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Jefferies reiterated its Buy rating and $70 price target on Abercrombie & Fitch (NYSE: ANF) ahead of Q4 2011 results on Wednesday, February 15 before the market opens.
The firm comments, "After significantly lowering its 4Q GM% assumption (to clear out excess holiday inventory) and the calendar '12 EPS outlook we believe the bad news is factored into ANF at current levels. Further, we think mgmt is now being conservative and see little risk to the revised $3.50-$3.75 FY'13 EPS range. With the LT int'l growth story very much intact, and several 2H tailwinds we think the shares are currently very attractive."
The firm is looking for Q4 EPS of $1.15, which is a few cents ahead of the consensus of $1.12.
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 $45.07 yesterday, with a 52 week range of $40.25-$78.25.
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The firm comments, "After significantly lowering its 4Q GM% assumption (to clear out excess holiday inventory) and the calendar '12 EPS outlook we believe the bad news is factored into ANF at current levels. Further, we think mgmt is now being conservative and see little risk to the revised $3.50-$3.75 FY'13 EPS range. With the LT int'l growth story very much intact, and several 2H tailwinds we think the shares are currently very attractive."
The firm is looking for Q4 EPS of $1.15, which is a few cents ahead of the consensus of $1.12.
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 $45.07 yesterday, with a 52 week range of $40.25-$78.25.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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