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published in Blogs
Oct 01, 2022
Abercrombie & Fitch (ANF, $15.46) shares got a reiterated Outperform rating from Telsey

Abercrombie & Fitch (ANF, $15.46) shares got a reiterated Outperform rating from Telsey

Abercrombie & Fitch Co . shares got a reiterated Outperform rating and a price target of $25.00 from Telsey Advisory Group analyst Dana Telsey.

According to Telsey, inventory balances are expected to be right-sized to demand trends ahead of the holidays. The pullback in orders from companies such as Walmart Inc creates a more favorable chase environment, the analyst indicated.

Telsey indicated that freight seems like a tailwind to margin in Q4, with the benefit continuing into FY23. Also, the analyst continues to expect long-term margin expansion opportunity through better store footprint and strengthening digital penetration.

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