Mizuho Securities Cuts Price Target on Abercrombie & Fitch (ANF) Following 2Q Miss
- Donald Trump Sworn in as 45th U.S. President
- U.S. stocks pare gains after Trump's inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Mizuho Securities maintained a Neutral rating on Abercrombie & Fitch (NYSE: ANF), and cut the price target to $20.00 (from $23.00), following the company's 2Q earnings report. ANF reported EPS of $(0.25), missing the Street’s $(0.20) estimate.
Analyst Betty Chen commented, "We are lowering our estimates and PT to $20 (from $23) to incorporate the 2Q miss and revised guidance that reflects 2H headwinds from weak traffic, softness in tourism and flagship stores, currency fluctuations, and product adjustments. Although we are encouraged by positive conversion trends and DTC growth, we believe the return to positive same store-sales may prove challenging in the near-term given product miscues and brand repositioning that could take longer than expected. Given the plethora of challenges facing the company, we expect shares to remain range-bound."
Shares of Abercrombie & Fitch closed at $22.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Skyworks Solutions (SWKS) PT Raised to $96 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!