American Eagle price target raised to $20 from $18 at BofA

BofA raised the firm’s price target on American Eagle (AEO) to $20 from $18 and keeps an Underperform rating on the shares. The firm attended meetings with management at the ICR conference, and its key highlights include that despite a pretty aggressive promotional environment in retail, the company’s margin discipline has been strong. Aerie has managed markdowns efficiently, while AE brand promotions have been more targeted, with jeans seeing slightly more aggressive discounting.