Stifel Sees American Eagle Outfitters (AEO) Momentum as Strong and Sustainable; Affirms at 'Buy'
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Stifel affirms American Eagle Outfitters (NYSE: AEO) at Buy with a $22 price target following Q2 results and outlook.
The firm commented today,
Customers responded favorably to the company’s innovative merchandise assortment, higher quality product and more compelling shopping experience fueling sales and margin. Strength was broadbased with both AE brand and Aerie comping positive.
Stifel also said,
We believe AEO’s momentum is strong and sustainable. In addition to the positive customer response to the company’s compelling and innovative merchandise assortment, we believe there are several initiatives in place to further drive sales and OM expansion likely into the mid-teens. These include: a new AE brand marketing campaign this fall (designed to strengthen engagement and create a stronger emotional connection), e-commerce growth (both domestically and internationally), enhanced omni-channel capabilities (ship from store, in-store pick-up, new mobile app) and real-estate rationalization (increasing aerie square footage, factory stores and international franchise locations and closing underperforming stores).
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