Stifel analyst Richard Jaffe attributes the selloff in shares of American Eagle following its Q3 report to investor expectations for the company to have issued a better outlook for the Holiday season. While acknowledging the company's Q4 guidance is below his estimate and consensus, Jaffe said he still believes the company's momentum is "strong and sustainable" and there are several initiatives in place to further drive sales and margin expansion. The analyst, who views the dip as a buying opportunity, keeps a Buy rating and $22 price target on American Eagle, which is down about 14% to $16.19 in early trading.