Jefferies Reiterates Upbeat View of Abercrombie & Fitch Co. Following Meeting With Management
Jefferies analyst Randal Konik weighed in with some comments on Abercrombie & Fitch Co. (NYSE:ANF) after hosting a meeting with the company’s management and the brand president of Hollister Co. Konik reiterated a Buy rating on the stock with a price target of $30. Shares of ANF are currently trading at $22.32, up $0.65, or 2.88%.
“Bottom line, it appears product changes are beginning to bear fruit, especially at Hollister, while process changes across the organization are improving speed & flexibility. Store environment changes make sense, in our view. We expect the progress to be first felt at Hollister girls, followed by international, and lastly the domestic A&F biz.”, the analyst commented.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Randal Konik has a total average return of 2.9% and a 43.8% success rate. Konik has a -10.0% average return when recommending ANF, and is ranked #1370 out of 3640 analysts.
Out of 23 analysts polled by Tipranks, 5 rate Micron stock a Buy, 10 rate the stock a Hold, and 8 recommend a Sell rating. With a return downside of 8.74%, the stock’s consensus target price stands at $21.20.