Jefferies Downgrades American Eagle Outfitters (AEO) to Hold

Jefferies downgraded American Eagle Outfitters (NYSE: AEO) from Buy to Hold with a $15 price target.

The firm cited, "lack of revenue visibility, which is consistent with our investment theme for 2H’11. Additionally, we see no near term catalysts aside from the appointment of a new CEO, which we do not expect to move the stock significantly. While the stock is cheap, it is likely to remain range bound. We believe risk/reward is balanced at current levels."

For more ratings news on American Eagle Outfitters click here and for the rating history of American Eagle Outfitters click here.

Shares of American Eagle Outfitters closed at $14.65 yesterday.

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