Abercrombie & Fitch price target raised to $27 from $18 at Argus

Argus analyst Taylor Conrad raised the firm’s price target on Abercrombie & Fitch to $27 from $18 and keeps a Buy rating on the shares. The company is improving marketing, strengthening its digital and omnichannel capabilities, and transitioning to smaller stores that can help boost customer engagement, the analyst tells investors in a research note. Conrad adds that she is impressed with Abercrombie & Fitch’s focus on digital sales, which now account for about half of revenue.