Sterne Agee reported on Wednesday that they have increased their rating on apparel company, Abercrombie & Fitch Co.(ANF).
The firm has given the company a “Buy” rating and $62 price target. This price target suggests a 23% upside to the stock’s current price of $47.67. Analysts have increased ANF’s rating due to recent channel checks.
Abercrombie & Fitch shares were mostly flat during premarket trading Wednesday. The stock has increased 6% in the past year.
The Bottom Line
Shares of Abercrombie & Fitch (ANF) have a 1.47% dividend yield, based on last night’s closing stock price of $47.67. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $49-$50 price levels.
Abercrombie & Fitch Co.(ANF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.