Abercrombie & Fitch (ANF) PT Lowered to $150 at UBS

UBS analyst Mauricio Serna lowered the price target on Abercrombie & Fitch (NYSE: ANF) to $150.00 (from $210.00) while maintaining a Buy rating.

The analyst commented, "ANF has strengthened its position in US Specialty Retail over the last 5 years. We think ANF's solid Q4 sales print (link) underscores its brands continue to outperform Specialty Retail competitors. ANF's stock pulled back 9% post its Q4 report given incremental margin headwinds. However, we continue to believe its brands maintain solid fundamentals. We thus forecast a 10% 5-yr. EPS CAGR and believe this growth outlook is underappreciated at an 8x FY2 P/E. We expect solid growth to catalyze P/E expansion to 11x and the stock towards our $150 PT."

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