Cowen reiterated an Outperform rating and $20.00 price target on American Eagle Outfitters (NYSE: AEO) following London management meetings. AEO currently operates 3 stores in the UK, and Cowen believes could reach 40+ locations over time by adding 10-15 owned stores/yr.

Analyst Oliver Chen commented, "Reit. Outperform on combo of traffic upside oppty, given sector-best denim execution, clear boho brand aesthetic & L-T growth drivers (Intl, aerie, digital, & omni inventory). Encouraged by outfitting success in women's across multiple top styles & winning bottoms, positive reception of men's & healthy comp composition of +AUR."

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Shares of American Eagle Outfitters closed at $15.71 yesterday.