Stifel analyst, Richard Jaffe, reiterated his Buy on American Eagle Outfitters (NYSE: AEO) after it reported 1Q EPS of $0.22, $0.04 above consensus and $0.03 above the high end of management’s guidance. EPS increased 49% vs. $0.15 LY. Strong results despite difficult comparisons, unfavorable weather and a challenging retail environment. Customers responded favorably to the company’s innovative merchandise assortment, higher quality product and more compelling shopping experience fueling sales and margin. Strength was broad based with brick and mortar, e-commerce, AE brand and Aerie comping positive.

PT drops to $18 from $20 on industry wide multiple compression.

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Shares of American Eagle Outfitters closed at $13.39 yesterday.