Abercrombie & Fitch Catches Retail Attention After Barclays Raises Price Target On Hollister Momentum
Synopsis
Barclays raised its price target on Abercrombie & Fitch to $94 from $84 and maintained an ‘Equal Weight’ rating, according to TheFly.
Abercrombie & Fitch was one of the top-trending tickers on Stocktwits on Friday after Barclays raised the firm's price target, noting the company's third-quarter results this week showcased the continued strength of its Hollister brand.
Barclays raised its price target on Abercrombie & Fitch to $94 from $84 and maintained an ‘Equal Weight’ rating, according to TheFly. The firm noted that the company matched estimates on sales and beat on earnings, driven by continued strength from Hollister with 15% comp sales
Barclay said that it sees strong momentum for Abercrombie heading into the holiday season.
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