Pali Research Starts American Eagle (AEO) at Buy
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Pali Research initiates coverage on American Eagle Outfitters Inc. (NYSE: AEO) with a Buy rating and $26 price target, saying a recent teen survey showed that "hands down" AEO won as the favorite brand and most dollars spent.
The firm said a decline in operating margin is most likely priced into the stock. They said the M+O concept was a drag on EPS, and if the concept is discontinued there will be a bump in margins. They also said improved sourcing should help margins over time, and company is showing they can control cost and leverage SG&A.
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