ANF - Abercrombie & Fitch is recommended by Argus for its attractive valuation

Argus called the recent share price weakness with Abercrombie & Fitch (ANF +3.7%) from its 2022 highs a buying opportunity for investors. Analyst Taylor Conrad: "We are impressed with the company's focus on digital sales, which now account about half of revenue. The company has also embraced social media, ending the year with 34 million followers across brands and platforms. The balance sheet is sound." In a look at the fundamentals, ANF is noted to be trading at 9.3X the firm's FY23 EPS estimate, above the peer average of 8.6X. They are also trading at a price-to-sales multiple of 0.7X, above the midpoint of the five-year range of 0.2X to 1.1X and slightly above the peer average of 0.6X. Conrad called the valuations on ANF attractive, particularly with the retailer shifting its focus to digital operations. Argus has Abercrombie & Fitch (NYSE:ANF) slotted with a Buy rating and price target

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Abercrombie & Fitch is recommended by Argus for its attractive valuation