ANF - Holiday Forecast For Abercrombie & Fitch: Analyst On How Improved Inventory Management Could Fuel Q3 Earnings | Benzinga
Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Abercrombie & Fitch Company (NYSE: ANF), raising the price target to $62 from $56.
According to the analyst, the ANF story remains compelling and intact with topline growth and margin expansion opportunities through increased digital penetration, improved square footage productivity, and further international development.
On the strength of the recently reported 2Q23 and a better-than-expected third-quarter guide, ANF expects to reach its prior 2025 target of an 8%-plus operating margin in FY23, given its YTD performance and expectations for 2H23, the analyst notes.
The momentum from Q2 has carried into Q3, ahead of the holiday season, which leads the company to expect the holiday period to be relatively normal and more