UBS Maintains a 'Neutral' on Abercrombie & Fitch (ANF); Near-Term Headwinds Keep Us Sidelined, But Long-Term Profile Improving
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Price: $54.64 +0.79%
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade ANF Now!
UBS maintains a 'Neutral' on Abercrombie & Fitch (NYSE: ANF) price target raised from $44 to $49.
UBS analyst says, "We believe that US store closures (180 more by ‘15) coupled with the higher margin profile of Europe/top 250 US stores plus the outsized DTC margins will help lift the margin profile of ANF over time. However, trends in the US will dictate performance for now; visibility on comps remains low (US and abroad) vs. tougher compares and inventory remains significantly elevated. Despite a lowered EPS bar, this could mean incremental volatility to estimates (each comp pt is ~$0.20 to EPS). We therefore look for comp stabilization to warm up to ANF."
UBS maintains FY13 EPS estimate fo $3.53, but lowers FY14 from $4.94 to $4.66.
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 $48.48 yesterday, with a 52 week range of $40.25-$78.25.
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UBS analyst says, "We believe that US store closures (180 more by ‘15) coupled with the higher margin profile of Europe/top 250 US stores plus the outsized DTC margins will help lift the margin profile of ANF over time. However, trends in the US will dictate performance for now; visibility on comps remains low (US and abroad) vs. tougher compares and inventory remains significantly elevated. Despite a lowered EPS bar, this could mean incremental volatility to estimates (each comp pt is ~$0.20 to EPS). We therefore look for comp stabilization to warm up to ANF."
UBS maintains FY13 EPS estimate fo $3.53, but lowers FY14 from $4.94 to $4.66.
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 $48.48 yesterday, with a 52 week range of $40.25-$78.25.
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