Abercrombie & Fitch price target raised to $155 from $145 at UBS

UBS analyst Mauricio Serna raised the firm’s price target on Abercrombie & Fitch to $155 from $145 and keeps a Neutral rating on the shares. UBS thinks the Abercrombie brand’s momentum prevailed in Q1 and into Q2 and expects a 23c EPS beat in Q1 and expects Abercrombie & Fitch to raise its FY24 operating guidance, the analyst tells investors in a research note. While the report should drive upward revisions to the Street’s FY24 EPS estimates, UBS believes the market already anticipates a solid Q1 report.