U.S. markets closed
  • S&P 500

    3,941.26
    -57.58 (-1.44%)
     
  • Dow 30

    33,596.34
    -350.76 (-1.03%)
     
  • Nasdaq

    11,014.89
    -225.05 (-2.00%)
     
  • Russell 2000

    1,812.58
    -27.65 (-1.50%)
     
  • Crude Oil

    74.59
    +0.34 (+0.46%)
     
  • Gold

    1,782.40
    0.00 (0.00%)
     
  • Silver

    22.33
    -0.01 (-0.04%)
     
  • EUR/USD

    1.0467
    -0.0002 (-0.02%)
     
  • 10-Yr Bond

    3.5130
    -0.0860 (-2.39%)
     
  • GBP/USD

    1.2130
    -0.0003 (-0.02%)
     
  • USD/JPY

    136.8400
    -0.1200 (-0.09%)
     
  • BTC-USD

    17,078.44
    +74.71 (+0.44%)
     
  • CMC Crypto 200

    400.49
    -1.32 (-0.33%)
     
  • FTSE 100

    7,521.39
    -46.15 (-0.61%)
     
  • Nikkei 225

    27,885.87
    0.00 (0.00%)
     

Abercrombie & Fitch Brand Remains Healthy With More Resilient Customer Base, Says Analyst

  • Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on the shares of Abercrombie & Fitch Co (NYSE: ANF) with a price target of $25.00.

  • Despite a softening demand environment amid macro challenges to lower-income consumers and significant uncertainty in Europe, management struck a fairly positive tone during the investor meetings hosted by the analyst and her team.

  • Inventory balances are expected to be right-sized to demand trends heading into the holiday, said Telsey.

  • The analyst added that the pullback in orders from large players such as Walmart Inc (NYSE: WMT) and Target Corp (NYSE: TGT) creates a more favorable chase environment.

  • Freight looks to finally become a tailwind to margin as well in Q4, with the benefit continuing into FY23, noted Telsey.

  • The analyst continues to see a long-term margin expansion opportunity through a more productive store footprint and expanding digital penetration.

  • Price Action: ANF shares are trading higher by 2.46% at $15.81 on the last check Friday.

Latest Ratings for ANF

Date

Firm

Action

From

To

Mar 2022

Telsey Advisory Group

Maintains

Outperform

Jan 2022

Telsey Advisory Group

Maintains

Outperform

Jan 2022

UBS

Downgrades

Buy

Neutral

View More Analyst Ratings for ANF

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.