KeyBanc Reiterates a 'Buy' on Abercrombie & Fitch (ANF); Raises PT
Tweet
Share
E-mailGet Alerts ANF Hot Sheet
Price: $148.42 --0%
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 10 | New: 25
Rating Summary:
14 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 10 | New: 25
Join SI Premium – FREE
KeyBanc reiterates a 'Buy' on Abercrombie & Fitch (NYSE: ANF), PT $75.
KeyBanc analyst says, "Since we upgraded Abercrombie from UNDERWEIGHT to BUY on May 12, 2009, the stock has increased 156% (vs. 47% for the S&P 500 index over the same period). We recently attended the Company's first Analyst Day in many years and came away impressed with ANF's long-term international growth prospects. By 2015, ANF management believes that it can achieve $7.5 billion in total sales, up from $3.5 billion in 2010, due predominantly to aggressive, and more profitable, international growth. We are tweaking our 2011 EPS estimate from $2.93 to $2.95 and introducing a $4.50 EPS estimate for 2012. As such, we are raising our price target from $65 to $75 and reiterate our rating. The stock trades at 22.4x 2011E P/E compared to 25.6x on our $75 price target."
For more ratings news on Abercrombie & Fitch click here and for the rating history of Abercrombie & Fitch click here.
Shares of Abercrombie & Fitch closed at $65.57 yesterday.
KeyBanc analyst says, "Since we upgraded Abercrombie from UNDERWEIGHT to BUY on May 12, 2009, the stock has increased 156% (vs. 47% for the S&P 500 index over the same period). We recently attended the Company's first Analyst Day in many years and came away impressed with ANF's long-term international growth prospects. By 2015, ANF management believes that it can achieve $7.5 billion in total sales, up from $3.5 billion in 2010, due predominantly to aggressive, and more profitable, international growth. We are tweaking our 2011 EPS estimate from $2.93 to $2.95 and introducing a $4.50 EPS estimate for 2012. As such, we are raising our price target from $65 to $75 and reiterate our rating. The stock trades at 22.4x 2011E P/E compared to 25.6x on our $75 price target."
For more ratings news on Abercrombie & Fitch click here and for the rating history of Abercrombie & Fitch click here.
Shares of Abercrombie & Fitch closed at $65.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Argus Upgrades Abercrombie & Fitch (ANF) to Buy
- Dollar Tree (DLTR) PT Raised to $121 at Piper Sandler
- KeyBanc on National Fuel Gas (NFG): 'P&S Growth an Underappreciated Hedge to Weak Natural Gas Prices'
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
KeyBancSign 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!
