Abercrombie & Fitch price target raised to $208 from $152 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Abercrombie & Fitch to $208 from $152 and keeps an Outperform rating on the shares. Following an “impressive” FY23, the company saw continued momentum through Q1 with stronger topline growth and greater margin expansion delivering the earnings beat, the analyst tells investors. Despite a “choppy” macro environment, Abercrombie & Fitch continues to deliver on-trend assortment with the agility to meet demand while also investing in the business and demonstrating the ability to draw new customers, the firm adds.