Nomura Securities Maintains a 'Neutral' on Abercrombie & Fitch (ANF); There's Been Some LBO Chatter...
Tweet Send to a FriendGet Alerts ANF Hot Sheet
Price: $49.09 +0.68%
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade ANF Now!
Nomura Securities maintains a 'Neutral' on Abercrombie & Fitch (NYSE: ANF) price target of $44.00.
Analyst, Paul Lejuez, said, "There has been some LBO discussion in the press recently surrounding ANF. We believe an ANF LBO is highly unlikely based on the following reasons: 1) Long leases in European flagships combined with negative comps, 2) CEO Mike Jeffries, 3) competitive teen landscape, 4) PE does not like the volatility of specialty apparel retailers, 5) to buy ANF at a 30pct premium would imply a $5bn+ deal, 6) store closings not producing benefits, 7) uncertainty in international, and 8) Hollister sales productivity fell 47% from 2006 to 2009. We believe the rationale we outlined above may be shared by many in the PE world."
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 $52.89 yesterday, with a 52 week range of $40.25-$78.25.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Paul Lejuez, said, "There has been some LBO discussion in the press recently surrounding ANF. We believe an ANF LBO is highly unlikely based on the following reasons: 1) Long leases in European flagships combined with negative comps, 2) CEO Mike Jeffries, 3) competitive teen landscape, 4) PE does not like the volatility of specialty apparel retailers, 5) to buy ANF at a 30pct premium would imply a $5bn+ deal, 6) store closings not producing benefits, 7) uncertainty in international, and 8) Hollister sales productivity fell 47% from 2006 to 2009. We believe the rationale we outlined above may be shared by many in the PE world."
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 $52.89 yesterday, with a 52 week range of $40.25-$78.25.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Liberty Global (LBTYA) Interested in Kabel Deutschland - FT
- UPDATE: Citi Raises PT on Micron Technology (MU) to $19
- Price Stability for Micron (MU) Means a Higher Stock Price - Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Mergers and Acquisitions, RumorsRelated Entities
Nomura
Login with Facebook
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!
