Nomura Securities Maintains a 'Buy' on Abercrombie & Fitch (ANF); Q1 Review

Nomura Securities maintains a 'Buy' on Abercrombie & Fitch (NYSE: ANF).

Nomura analyst, Paul Lejuez, said, "ANF reported 1Q EPS of $0.27, a $0.15 beat vs. consensus, driven by very strong GM (+230bp). Although not given specifically, we estimate 2Q implied EPS guidance is $0.22-0.30 (vs. consensus of $0.29). With ANF up 28% April (vs. the softlines index up 10%) since its investor day in April and 2Q to be pressured by some timing issues, we believe that the stock may take a temporary breather until we are closer to the 2Q earnings date, with the 3Q outlook the next real catalyst (keeping in mind ANF no longer reports monthly)."

For more ratings news on Abercrombie & Fitch click here and for the rating history of Abercrombie & Fitch click here.

Shares of Abercrombie & Fitch closed at $75.69 yesterday.

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