Brean Murray Boosts Numbers on American Eagle Outfitters (AEO) after Q2

Brean Murray Carret & Co. raised estimates and their price target on Buy-rated American Eagle Outfitters (NYSE: AEO) following Q2 results.

The firm's price target goes from $24 to $27, FY13 EPS estimate to $1.35 (from $1.29) and FY14 EPS projection to $1.50 (from $1.45).

The analyst comments: "American Eagle continues to gain momentum, as product offerings remain on trend, execution strategies strengthen, and promotional activity declines. Despite all the improvements the company has demonstrated over the past few quarters, management refuses to stop here and believes there is still ample room to grow sales and margins, as well as strengthen the consistency in performance. As such, we are reiterating our Buy rating and revising our target price to $27, or 18x our FY14 EPS estimate, as we believe the company is on the right track to drive both top- and bottom-line results over both the short- and long-term and with a focused and disciplined approach; hence, we think the company deserves a premium multiple."

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 $20.83 yesterday.

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