Longbow Starts AEO, ARO at Buy, ANF, HOTT, BKE at Neutral
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June 11, 2009 2:18 PM EDT
Longbow Research's retail analyst initiated coverage on several stocks today:
- American Eagle (NYSE: AEO) started at Buy with a $19.50 price target, suggesting potential upside of about 35% from current levels.
- Aeropostale (NYSE: ARO) started at Buy with a $48 price target, representing upside of 36%.
- Abercrombie & Fitch (NYSE: ANF) started at Neutral.
- Hot Topic (Nasdaq: HOTT) started at Neutral.
- The Buckle (NYSE: BKE) started at Neutral.
Today's coverage follows
data on retail sales results for the month of May, which was issued early this morning. Despite a 1.2% and 1.1% rise in the Dow and Nasdaq today, respectively, retail stocks are trading lower. The SPDR S&P Retail ETF (NYSE:
XRT) is currently down 1.5%.
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