Nomura Securities Maintains a 'Neutral' on Abercrombie & Fitch (ANF); Sharp Drop Internationally; U.S. Not Comforting

Nomura Securities maintains a 'Neutral' on Abercrombie & Fitch (NYSE: ANF) price target lowered from $44 to $40.

Analyst, Paul Lejuez, said, "ANF reconfirmed F12 guidance of $3.50-$3.75, but beneath the surface there were some troubling signs. Aside from an upward revision to the GM outlook, the downward revision in comp expectations (from flat previously to down 5%) points to the sharp deceleration in trends that surprised mgmt and the market. Int’l Hollister stores were still hanging on to positive comps in 4Q, but that has come to an end in 1Q. We are lowering our F12E from $3.41 to $3.10 and our F13E from $3.97 to $3.32."

For an analyst ratings summary and ratings history on Abercrombie & Fitch click here. For more ratings news on Abercrombie & Fitch click here.

Shares of Abercrombie & Fitch closed at $39.50 yesterday.

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