Janney Montgomery Scott Maintains a 'Buy' on American Eagle Outfitters (AEO); Raising Numbers on Upside Preannouncement

Janney Montgomery Scott maintains a 'Buy' on American Eagle Outfitters (NYSE: AEO) price target raised from $19 to $24.

Analyst, Adrienne Tennant, said, "AEO preannounced strong 1Q12 comparable store sales of +17%, including sales from AEO direct, versus the Retail Metrics consensus of +6.1%...We believe the company's full year guidance is very conservative, as we expect the momentum in 1Q12 to carry throughout the remainder of the year, especially as the company works to bring inventory in line with sales."

"We are raising our EPS estimates and fair value based on stronger than expected sales and margins. We are raising our 1Q12 EPS estimate to $0.21 from $0.10 (versus consensus at $0.10). In addition, we are raising our FY12 and FY13 EPS estimates to $1.17 from $0.98 (versus consensus at $1.07) and to $1.33 from $1.12 (versus consensus at $1.22), respectively."

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 $17.89 yesterday.

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