Abercrombie & Fitch price target raised to $140 from $105 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Abercrombie & Fitch to $140 from $105 and keeps an Outperform rating on the shares ahead of its Q4 earnings results. Telsey last heard the company had experienced a “better-than-expected” holiday period and raised its 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 firms adds. Longer-term, Telsey expects to continue to see margin expansion opportunity through digital growth and increased square footage productivity.