Oppenheimer Raises Price Target 50% on American Eagle Outfitters (AEO)
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Price: $16.23 +1.44%
Rating Summary:
12 Buy, 24 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 24 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Oppenheimer analysts reiterated their OUTPERFORM rating on American Eagle Outfitters (NYSE: AEO) and raised the price target $8 from $16 to $24. They also raised the FY 2012 EPS estimate to $1.12 from $1.07.
The price target is based an ex cash 15x multiple on Oppenheimer’s FY 2013 EPS estimate of $1.30, which is above consensus. Warmer weather likely increased demand for seasonal spring products, which would make first quarter guidance of $0.08-0.10 conservative.
In a company update, an Oppenheimer analyst wrote, “Improved product, compelling (but controlled) promotions and a renewed emphasis on customer service stimulate traffic/conversion. Channel checks indicate that AEO is consistently among the most crowded teen retailers with customers patiently waiting to make multiple item spring product purchases.”
For an analyst ratings summary and ratings history on American Eagle Outfitters click here. For more ratings news on American Eagle Outfitters click here.
Shares of American Eagle Outfitters closed at $18.24 yesterday.
The price target is based an ex cash 15x multiple on Oppenheimer’s FY 2013 EPS estimate of $1.30, which is above consensus. Warmer weather likely increased demand for seasonal spring products, which would make first quarter guidance of $0.08-0.10 conservative.
In a company update, an Oppenheimer analyst wrote, “Improved product, compelling (but controlled) promotions and a renewed emphasis on customer service stimulate traffic/conversion. Channel checks indicate that AEO is consistently among the most crowded teen retailers with customers patiently waiting to make multiple item spring product purchases.”
For an analyst ratings summary and ratings history on American Eagle Outfitters click here. For more ratings news on American Eagle Outfitters click here.
Shares of American Eagle Outfitters closed at $18.24 yesterday.
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