Abercrombie & Fitch Price Target Cut to $92, Shares Down Nearly 40%
ANF•Raymond James cut Abercrombie & Fitch’s price target to $92 from $110, implying 23% upside to Tuesday’s closing price. Shares retreated nearly 40% since January but climbed over 3% premarket ahead of Q1 results projecting $1.12 billion revenue and $1.20–1.30 EPS.
1. Price Target Reduction
Raymond James lowered Abercrombie & Fitch’s price target to $92 from $110, citing weaker discretionary spending and higher gas prices pressuring the Hollister brand. The new target still implies roughly 23% upside to Tuesday’s closing price.
2. Share Performance Trends
Shares have slipped each month since March and have retreated nearly 40% from a 52-week high in January. Despite this downward trend, the stock jumped over 3% in premarket trading ahead of its Q1 report.
3. Q1 Earnings Outlook
Analysts project first-quarter revenue of $1.12 billion and earnings between $1.20 and $1.30 per share. The company expects same-period sales growth of 1% to 3%, as it navigates promotional pressures in the teen apparel market.
