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American Eagle price target raised to $21.50 from $19 at UBS

UBS raised the firm’s price target on American Eagle (AEO) to $21.50 from $19 and keeps a Buy rating on the shares. The market is likely to assume American Eagle’s Sydney Sweeney marketing campaign was the main reason the company delivered a Q2 EPS beat and better-than-expected guidance, but UBS believes the key to the stock is the inflection in the Aerie business, the analyst tells investors in a research note. The Aerie inflection shows American Eagle is improving quarter over quarter not only because of marketing, but also because of much improved products and merchandising, UBS argues.

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