Analyst Takes Down Abercrombie & Fitch Price Forecast By 34% Despite Being Bullish - Here's Why
1. Telsey Advisory reiterated an Outperform rating, lowered price target to $125. 2. ANF surpassed fiscal year expectations, showing strong performance despite gross margin dip. 3. Expectations for FY25 sales growth are 3% to 5%, impacted by currency headwinds. 4. Plans to open 100 new stores in FY25, aiming for continued growth. 5. Inventory increased 22.5%, supporting projected sales growth of 4% to 6%.