American Eagle Outfitters (AEO) PT, Estimates Lifted at Piper Jaffray

Piper Jaffray analyst Neely J.N. Tamminga bumped her price target on American Eagle Outfitters (NYSE: AEO) to $18.00 (from $17.00) following solid Q1 results but maintained a Neutral rating.

commented, "We are adjusting our estimates and raising our price target on AEO shares following their solid FQ1 report in which AEO bested both top- and bottom-line expectations. Comps came in at 7% versus guidance of +MSD% and gross margin improved 250 bps y/ y to 37.5% with EPS coming in at $0.15, ahead of management's guidance of $0.09-$0.12. We remain Neutral on the stock, but note that should continued momentum in traffic and pricing demonstrate the positive momentum we've seen in the past two quarters, we would likely revise our earnings model, valuation metrics and thesis on the shares. "

The firm bumped FY 2016 EPS from $0.87 to $0.99 and FY 2017 EPS from $0.92 to $1.03.

For an analyst ratings summary and ratings history on American Eagle Outfitters click here. For more ratings news on American Eagle Outfitters click here.

Shares of American Eagle Outfitters closed at $16.61 yesterday.

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