UPDATE: Citigroup Cuts PT to $25 on American Eagle Outfitters on Competitive Concerns
Posted on January 10, 2013 at 14:25 PM EST
Citigroup reiterated its Buy rating on American Eagle Outfitters (NYSE: AEO ) but reduced its price target from $28 to $25. Citigroup said, "We believe AEO's product strength was demonstrated by strong E-comm sales; however, we believe AEO remains in an extremely competitive teen-apparel market with decelerating mall traffic.