Raymond James analyst Rick Patel lowered the firm’s price target on Abercrombie & Fitch to $90 from $110 and keeps an Outperform rating on the shares ahead of the Q1 earnings report. The firm’s channel checks, which include store traffic, mobile app data, Google Trends, and weekly online promotions, show lingering softness at the A&F brand, though Hollister was “better” across most checks, the analyst tells investors in a research note. The firm doesn’t have high confidence in Abercrombie’s ability to raise prices given it targets younger consumers.
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