Piper Jaffray Sees Aeropostale (ARO) Recovery Continuing, Upgrades to Overweight

Shares of Aeropostale (NYSE: ARO) are in positive territory Monday following an earlier upgrade from an analyst at Piper Jaffray. The firm now rates the stock an Overweight, up from Neutral previously, and boosted its price target from $20 to $24.

Citing recent price discrepancies between Aeropostale, American Eagle (NYSE: AEO) and Abercrombie's (NYSE: ANF) Hollister brand, Piper believes Aeropostale will recapture market share and recover margins "at a faster pace than previously modeled..." The firm also likes the company's p.s. brand.

With Aeropostale shares up 0.8 percent to $19.83 at last check, Piper Jaffray's new price target represents potential upside of about 21 percent.

Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Aeropostale.

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