Abercrombie & Fitch Gets Two Thumbs Up From Analysts, Its Stock Drops Anyway
Shares of lifestyle retailer Abercrombie & Fitch (NYSE: ANF) traded lower today despite positive outlooks provided by research notes from a pair of major investment firms. Both Wedbush Securities and investment bank B. Riley FBR expressed optimism today about the apparel seller, which, like much of the sector, saw sales and share value plunge in March and April as COVID-19 spread through major U.S. cities.
From B. Riley, analyst Susan Anderson gave Abercrombie & Fitch a $13 per share price target, expecting it to "outperform" under current conditions, with sector sales recovering and company cost-cutting and online efficiency winning over investors. She kept Abercrombie rated as Buy, along with several other apparel sector stocks.
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Source Fool.com
