These Analysts Slash Their Forecasts On Abercrombie & Fitch Following Q2 Results
Portfolio Pulse from Avi Kapoor
Abercrombie & Fitch Co (NYSE:ANF) reported strong Q2 earnings, with sales and EPS beating estimates. Despite this, analysts from UBS and Morgan Stanley lowered their price targets, leading to a 17% drop in ANF shares. The company raised its FY24 sales growth outlook and operating margin forecast.
August 29, 2024 | 1:07 pm
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Abercrombie & Fitch reported strong Q2 earnings, beating sales and EPS estimates. Despite this, analysts from UBS and Morgan Stanley lowered their price targets, causing a 17% drop in ANF shares. The company raised its FY24 sales growth outlook and operating margin forecast.
Despite strong Q2 results, analysts lowered price targets, indicating concerns about future performance or valuation. This led to a significant drop in share price, suggesting negative short-term sentiment.
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