Janney Montgomery Scott Reiterates 'Best Idea' on American Eagle Outfitters (AEO); Staying Above Consensus on Positive Channel Checks
Tweet
Share
E-mailGet Alerts AEO Hot Sheet
Price: $16.17 -0.8%
Rating Summary:
12 Buy, 24 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 24 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Janney Montgomery Scott maintains a 'Buy' on American Eagle Outfitters (NYSE: AEO) price target of $26.00.
Analyst, Adrienne Tennant, said, "Based on our quarter-to-date channel checks, we believe the positive momentum seen in 1Q12 has carried into 2Q12 (although we note that comp compares are sequentially more difficult). Specifically, this past weekend, we noted that this year the company ran buy a short, get one for $10 from July 16, 2012 through July 22, 2012 in stores and online, plus take an additional 40% off clearance online only from July 18, 2012 through July 24, 2012...We expect positive momentum to continue into the heart of the back-to-school selling season, as the BTS I capsule (incremental to last year) appears to be resonating with customers."
"We continue to highlight AEO as a name to own for 2H12 and commend the management team for moving swiftly to make changes in the business that are beneficial to both the business and shareholders."
Tennant's Q2 EPS estimate is $0.17 and comps +8%. FY12/13 EPS estimate remain at $1.28 and $1.45 (all over consensus estimates of $0.15, $1.25 and $1.4, 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 $20.32 yesterday.
Analyst, Adrienne Tennant, said, "Based on our quarter-to-date channel checks, we believe the positive momentum seen in 1Q12 has carried into 2Q12 (although we note that comp compares are sequentially more difficult). Specifically, this past weekend, we noted that this year the company ran buy a short, get one for $10 from July 16, 2012 through July 22, 2012 in stores and online, plus take an additional 40% off clearance online only from July 18, 2012 through July 24, 2012...We expect positive momentum to continue into the heart of the back-to-school selling season, as the BTS I capsule (incremental to last year) appears to be resonating with customers."
"We continue to highlight AEO as a name to own for 2H12 and commend the management team for moving swiftly to make changes in the business that are beneficial to both the business and shareholders."
Tennant's Q2 EPS estimate is $0.17 and comps +8%. FY12/13 EPS estimate remain at $1.28 and $1.45 (all over consensus estimates of $0.15, $1.25 and $1.4, 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 $20.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
- Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
- Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Janney Montgomery ScottSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
