Morgan Stanley Almost Triples Abercrombie & Fitch Price Target To Imply It's Fairly Valued - Read Why
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Alex Straton upgraded Abercrombie & Fitch Co (ANF) from Underweight to Equal-Weight and raised the price target from $18 to $51. The upgrade is based on ANF's strong 2Q EPS, continued topline momentum, and potential for further improvement. However, the analyst maintains skepticism about the company's long-term performance sustainability.
August 25, 2023 | 4:47 pm
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Morgan Stanley upgraded Abercrombie & Fitch Co (ANF) and raised its price target, indicating a positive short-term outlook. However, there is skepticism about the company's long-term performance.
The upgrade and raised price target by Morgan Stanley indicates a positive short-term outlook for ANF. The strong 2Q EPS and continued topline momentum are positive indicators. However, the analyst's skepticism about the company's long-term performance sustainability could potentially impact the stock negatively in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100