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KeyBanc upgrades Abercrombie & Fitch (NYSE: ANF) from Underweight to Buy. Price target increased from $17 to $32.
KeyBanc analyst says, "Since our January 2009 initiation, Abercrombie has underperformed BUY-rated Aeropostale (NYSE: ARO) by 6,731 basis points and has underperformed the RLX by 1,246 basis points. Given ANF's potential to return to over $2.00 in earnings power long term and at 3.3x EV/ EBITDA, we find the valuation attractive for long-term investors. Buckle has posted exemplary results, but we worry difficult comparisons, peak operating margins, and a slowdown in the men's business could cause the Company to underperform."
"Our favorite BUY-rated name remains American Apparel (AMEX: APP). This is followed by in rank order: Aeropostale, Abercrombie & Fitch, and Urban Outfitters (Nasdaq: URBN)."
Abercrombie & Fitch Co. (A&F), through its subsidiaries, is a specialty retailer that operates stores and Websites. The Company sells casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, outerwear, personal care products and accessories for men, women and kids.
To see more analyst ratings on ANF Click Here.
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