American Eagle Outfitters (AEO) PT Lowered to $21 at TD Cowen

TD Cowen analyst Jonna Kim lowered the price target on American Eagle Outfitters (NYSE: AEO) to $21.00 (from $27.00) while maintaining a Hold rating.

The analyst commented: "High Bar But Aerie Strength Remains Encouraging; Stock has pulled backed ~-31% since the peak in January & now trades at ~10x FY2 P/E but it becomes more challenging to ascribe a higher multiple when AE growth is relatively limited & Aerie comps might be at its apex with compares sequentially getting tougher. That said, we remain impressed with Aerie's momentum. We monitor execution on merchandise & the impact of higher marketing in 1H26 on AE."

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