As previously reported, UBS upgraded Abercrombie & Fitch to Buy from Neutral with a price target of $220, up from $173. A&F has strengthened its position in U.S. Specialty Retail over the last five years and the firm believe its brands’ strength and growth initiatives should drive outperformance compared to apparel peers, the analyst tells investors. The firm forecasts a 20% EPS compound annual growth rate through FY28 and believes this growth outlook is underappreciated, the analyst added.
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