Abercrombie & Fitch: up, broker raises target

(CercleFinance.com) - Abercrombie & Fitch shares are up over 5% in New York as Jefferies this morning reiterated its 'buy' recommendation on the stock with a price target raised from $85 to $120, the day after the clothing house raised its targets for its fourth quarter and full year.


The broker recalls that holiday sales were strong, driven by solid gains in the women's business at both Hollister and A&F, while sales in the men's business were also up at A&F.

"The company still has plenty of room for sales expansion, particularly as we expect a turnaround in Hollister's men's business," adds Jefferies, which is also optimistic for an updated Always Forward plan.

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