Abercrombie & Fitch's Ability To Lean Into Trends Amid Normalized Supply Chain: Analyst Sees Cleaner Inventories
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Dana Telsey has reiterated an Outperform rating on Abercrombie & Fitch Company (ANF), raising the price target to $47 from $35. The analyst expects ANF's 2Q23 total revenue to increase 5.2% Y/Y to $847 million, slightly ahead of the consensus of $839 million. The A&F brand is expected to remain healthy with a more resilient customer base and robust assortment. ANF shares are trading higher by 2.27% to $42.37.
August 16, 2023 | 6:46 pm
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POSITIVE IMPACT
Abercrombie & Fitch's stock price is expected to perform well due to the Outperform rating reiterated by Telsey Advisory Group analyst Dana Telsey. The analyst also raised the price target to $47 from $35, indicating a positive outlook for the company.
The Outperform rating and raised price target by the analyst indicate a positive outlook for Abercrombie & Fitch. This is likely to attract investors, leading to an increase in the stock price. The company's expected increase in total revenue for 2Q23 also supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100