Abercrombie & Fitch price target lowered to $100 from $130 at Jefferies

Jefferies lowered the firm’s price target on Abercrombie & Fitch to $100 from $130 and keeps a Buy rating on the shares. The firm cites near-term margin pressure for the target cut but sees easier Q4 compares and a “trough valuation” for Abercrombie. The company’s Q3 results may be pressured as promotions increased and selling prices declined year-over-year, the analyst tells investors in a research note.