Jefferies Downgrades American Eagle Outfitters (AEO) to Hold, Sees Limited Upside

Jefferies downgraded American Eagle Outfitters (NYSE: AEO) from Buy to Hold with a price target of $22.00 (from $26.00) on tough upcoming compares which are likely to slow momentum, a lack of upcoming catalysts and fair valuation levels.

"Following the appointment of new CEO Robert Hanson roughly a year ago, we believe much of the good news has already played out (e.g. closing the kids business, issuing a special dividend, bringing inventory levels in line with sales)," the analyst comments. "As such we believe much of the good news is already priced into the stock and see further upside as limited."

For an analyst ratings summary and ratings history on American Eagle Outfitters click here. For more ratings news on American Eagle Outfitters click here.

Shares of American Eagle Outfitters closed at $19.85 yesterday.

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