ABERCROMBIE & FITCH : Jefferies raises its price target
January 09, 2024 at 09:04 am EST
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Jefferies reiterates its 'buy' recommendation on Abercrombie & Fitch, 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, especially as we expect Hollister's men's business to turn the corner', adds Jefferies, which is also optimistic about an update to the Always Forward plan.
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Abercrombie & Fitch Co., through its subsidiaries, is a global, digitally led omnichannel retailer. The Company offers a range of assortment of apparel, personal care products and accessories for men, women, and kids, which are sold primarily through its Company-owned stores and digital channels, as well as through various third-party arrangements. The Companyâs brands include Abercrombie brands, which includes Abercrombie & Fitch and abercrombie kids, and Hollister brands, which includes Hollister and Gilly Hicks. Its geographic segments include Americas, EMEA, and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa. The APAC segment includes operations in the Asia-Pacific region, including Asia and Oceania. The Company operates 40 international franchise stores across the Companyâs brands primarily located within the Americas and EMEA region.
ABERCROMBIE & FITCH CO. 
