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Abercrombie & Fitch‎ - Stock Market News
Stock Market News | 2011/04/06 09:36

Some analysts raised their price targets for Abercrombie & Fitch Co. on Wednesday, citing the retailer's strong 2012 earnings outlook and international prospects.

During an analyst day on Tuesday, Abercrombie & Fitch forecast 2012 earnings of $4.75 per share. Analysts surveyed by FactSet expect earnings of $4.31 per share.

The New Albany, Ohio-based chain also forecast revenue of $7.5 billion or more by 2015.

Edward Yruma of KeyBanc Capital Markets said in a client note that the revenue guidance relies mostly on aggressive overseas growth. He boosted the company's price target to $75 from $65 and maintained a "Buy" rating.

Betty Chen at Wedbush Securities boosted Abercrombie & Fitch's price target to $60 from $57 and kept a "Neutral" rating. She also increased the company's 2011 earnings estimate to $2.95 from $2.85 per share and raised her 2012 forecast to $4.75 from $3.88 per share, citing more international store openings.

But Chen said in a client note that the stock has been outperforming of late and that she "would prefer to become more constructive on a pullback as we remain concerned with the ability to increase U.S. store productivity given the domestic retail environment."

Retailers in the U.S. struggled during the recession as consumers pulled back on spending. Rising costs have pressured many to raise prices or prepare to boost prices, leaving experts to wonder how shoppers will react when they are also contending with increasing gas prices.



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