Nomura Securities Reiterates a 'Buy' on Abercrombie & Fitch (ANF); Continues Looking Attractive

Nomura Securities reiterates a 'Buy' on Abercrombie & Fitch (NYSE: ANF), price target of $80.

Nomura analyst, Paul Lejuez, says, "Raising estimates after reporting strong sales. ANF is a standout in teen retail, with sales and comps well ahead of consensus estimates. We believe the company is well positioned to ride out a rough 2H11 with effective promotions to drive traffic and a strong international business to offset margin pressure from the U.S. We are raising our 2QE EPS to $0.31 from $0.29 and F11E to $3.22 from $3.19. ANF continues to look very attractive to us, trading at just 5.9x our F12E EBITDA vs. the group at 6.0x, and we believe warrants a premium valuation."

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 $67.40 yesterday.

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