JPMorgan lowered the firm’s price target on American Eagle (AEO) to $9 from $10 and keeps a Neutral rating on the shares. The company announced preliminary Q1 results comprised of inline revenue and a profit shortfall due to higher than planned markdowns and an inventory charge of $75M to write-down excess spring and summer merchandise, the analyst tells investors in a research note. The firm says American Eagle’s fiscal 2025 guidance was withdrawn due to macro uncertainty.
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Read More on AEO:
- American Eagle’s Performance Challenges and Adjusted Outlook Amid Inventory Write-Downs
- Closing Bell Movers: Exelixis up 6% on earnings beat
- American Eagle sees Q1 SSS down 3%
- American Eagle down 19% after Q1 pre-announcement, withdrawn guidance
- American Eagle reports preliminary Q1 revenue $1.1B, consensus $1.08B
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