Analyst Sees Abercrombie & Fitch's (ANF) New Executive as Positive but Maintains Hold Rating

Topeka Capital maintained a Hold rating on Abercrombie & Fitch (NYSE: ANF) with a price target of $37. Earlier Christos Angelides was named President of its Abercrombie & Fitch and abercrombie kids brands. Analyst Dorothy S. Lakner views the change as a positive.

"Mr. Angelides comes to ANF with broad cross-functional experience at Next, having served as head of sourcing, womenswear, menswear and its junior label Lipsy. Given Next's global presence, the choice also underscores ANF's increasingly global business, though his lack of US stores experience could be a drawback. In addition, its mix of private label and brands could help as ANF brings in third-party brands to fill in and create excitement in its mix. A positive move, in our view, but with little impact until later in 2015 and a lot of work yet to do in 2014 from a multitude of initiatives, we continue to rate ANF Hold," said Lakner.

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 $40.52 yesterday.

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