Morgan Stanley raised the firm’s price target on Abercrombie & Fitch to $95 from $78 and keeps an Equal Weight rating on the shares. The Q3 beat “surprised to the upside” and the firm leaves the report more constructive as A&F’s financial profile “may be structurally better than we thought,” the analyst tells investors. Q4 EPS was guided about in-line with expectations and “likely proves achievable/potentially beatable,” the analyst added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ANF:
- Abercrombie & Fitch price target raised to $109 from $92 at JPMorgan
- Abercrombie & Fitch price target raised to $90 from $79 at Citi
- Abercrombie & Fitch: Resilient Financial Performance Amid Bearish Retail Sentiment Justifies Hold Rating
- Abercrombie & Fitch: Positive Developments and Growth Potential Drive Buy Rating
- Abercrombie & Fitch Reports Record Quarterly Sales