Abercrombie & Fitch initiated with a Buy at BTIG

BTIG initiated coverage of Abercrombie & Fitch with a Buy rating and $120 price target The firm acknowledges Abercrombie’s headwinds from a selective consumer and tough comparisons, but has confidence in its ability to return to growth. The company’s traffic and brand health remain strong and “multi-year tailwinds” are forming for the Hollister brand, the analyst tells investors in a research note.