JPMorgan downgraded American Eagle (AEO) to Underweight from Neutral with a $9 price target The firm expects the company’s Q2 SSS to fall 3% – in line with consensus – and its gross margins to shrink 270bps vs. consensus of 250bps due to $10M FX headwind and $2M-$3M tariff headwind, the analyst tells investors in a research note.
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