AEO - Why American Eagle Stock Dropped 4.5% on Wednesday
Clothing retailer American Eagle Outfitters (NYSE: AEO) was down as much as 5.3% on Wednesday, with the stock price ending the day at $11.24 -- down 4.5%.
All the major indexes finished lower once again on Wednesday, but American Eagle suffered from an analyst lowering its price target, as well as cloudy earnings news from competitors .
American Eagle Outfitters, a clothing retailer primarily for teens and young adults, likely sank, in part, to Telsey Advisory Group lowering its price target on Wednesday. Telsey lowered the target from $17 to $15, citing inflation pressures on retailers and consumers that will create a challenging economic environment in the second half of the year.
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Why American Eagle Stock Dropped 4.5% on Wednesday