Get 40% Off
☕ Buy the dip? After losing 17%, Starbucks sees an estimated 20% upside. See the top Undervalued stocks!Unlock list

Abercrombie & Fitch Analysts Boost Their Forecasts Following Strong Earnings

Published 22/11/2023, 16:33
© Reuters.  Abercrombie & Fitch Analysts Boost Their Forecasts Following Strong Earnings

Benzinga - by Lisa Levin, Benzinga Editor.

Abercrombie & Fitch Co (NYSE: ANF) reported upbeat earnings for the third quarter on Tuesday.

Abercrombie & Fitch reported third-quarter FY23 sales growth of 20% year-on-year to $1.06 billion, missing the analyst consensus estimate of $1.34 billion. Total company comparable sales rose 16%. Adjusted EPS of $1.83 beat the consensus estimate of $1.18, according to data from Benzinga Pro.

Abercrombie & Fitch sees FY23 net sales growth of 12% - 14% (previously 10% growth).

Abercrombie & Fitch shares fell 2.2% to trade at $72.37 on Wednesday.

These analysts made changes to their price targets on Abercrombie & Fitch following earnings announcement.

  • Telsey Advisory Group raised the price target on Abercrombie & Fitch from $74 to $83. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
  • Morgan Stanley boosted the price target on Abercrombie & Fitch from $53 to $68. Morgan Stanley analyst Alexandra Steiger maintained an Equal-Weight rating.

Also Check This Out: Jim Cramer Calls Major Automaker Stock A 'Wait And See Situation' — 'I Want To See The Quarter'

Latest Ratings for ANF

Mar 2022Telsey Advisory GroupMaintainsOutperform
Jan 2022Telsey Advisory GroupMaintainsOutperform
Jan 2022UBSDowngradesBuyNeutral

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.