Abercrombie & Fitch (ANF) PT Raised to $115 at Jefferies

Jefferies analyst Corey Tarlowe raised the price target on Abercrombie & Fitch (NYSE: ANF) to $115.00 (from $105.00) while maintaining a Buy rating.

The analyst comments "We hosted the ANF mgmt team (CFO and IR team) for a virtual NDR. ANF's mgmt remains focused on driving top-line growth and margin resilience through disciplined execution, assortment optimization, and strategic expansion. Despite promotional intensity and product mix challenges, healthy traffic, robust omni-channel momentum, and ongoing operational improvements position the company for continued progress into 2026. PT to $115. Strategies are in Place to Drive Disciplined Sales and Profit Growth in the Years Ahead. On the call, mgmt reaffirmed ANF’s global strategy, focused on store expansion and franchise/wholesale growth. Operational margins remain healthy and are expected to end the year in the range of ~13-13.5%. Growth continues to hinge on top-line initiatives, including brick-and-mortar expansion, as well as franchise and wholesale development. Momentum Through Traffic and Assortment Discipline. Mgmt aims for flat A&F net sales in Q4 to build momentum into 2026. Positive traffic trends have persisted throughout the year, though product mix dynamics and conversion setbacks required targeted adjustments. Mgmt spent a significant portion of the year testing product strategies to ensure alignment with consumer preferences, and believes the current product is strong."

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