Pali Research Upgrades Abercromie & Fitch (ANF) to Buy; Int'l Growth Provide Catalysts Going Forward
More News related to ANF
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- Caris & Co Upgrades Abercrombie & Fitch (ANF) to Average
- Highlights From ANF's Q3 Conference Call: Net Sales Declined 15%, Comp Store Sales Fell 22%
- While Sales Fall, Abercrombie and Fitch (ANF) Posts Better-Than-Expected EPS
- Abercrombie & Fitch (ANF) Beats Q3 Views by 10c, Posts non-GAAP EPS of $0.30
Pali Research upgrades Abercromie & Fitch (NYSE: ANF) from Neutral to Buy. Price target $45.
Pali analyst says, "We think improved inventory positioning, increased fashion penetration, lower pricing and international growth provide catalysts going forward. While off the bottom, the stock has lagged the group recently and YTD with 18% short interest. We expect the next few months could still be choppy but believe the levers management will pull going forward will have a more meaningful impact on the business. With some of the most significant OM compression in retail, a stock at ~5x EBITDA and every 100 bps of OM yielding $0.20+ in EPS, we think this is one of the more attractive names looking out to FY10...We project $7.84 in cash per share at FY09 end (excludes ARS) with $100m in outstanding debt."
To see more analyst ratings on ANF Click Here.
Abercrombie & Fitch Co., through its subsidiaries, operates as a specialty retailer of casual sportswear apparel for men, women, and kids.
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