Abercrombie & Fitch price target raised to $105 from $95 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Abercrombie & Fitch to $105 from $95 and keeps an Outperform rating on the shares. Abercrombie & Fitch experienced a “better-than-expected” holiday period and also raised its Q4 and FY23 guidance, the analyst tells investors. The A&F brand remains healthy with a more resilient customer base and Hollister is showing signs of improvement, the firm adds. In the long term, Telsey continues to see margin expansion opportunity.