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Fly News Breaks for September 5, 2019
AEO
Sep 5, 2019 | 08:55 EDT
Loop Capital analyst Laura Champine lowered her price target on American Eagle to $20 after its "messy" Q2 results and below-consensus Q3 guidance. The analyst cites the 2% comp growth coming in below her forecast of 3% growth in Q2, adding that she believes the company's expense pressures will continue to mount while sales track weaker. Champine adds that while Q2 earnings beat by 7c, they include the 8c benefit from a "one-time true-up of royalties from a partnership in Japan that is being exited." The analyst still keeps her Buy rating on American Eagle, saying that at 9-times her expected FY20 earnings estimate, the stock is "inexpensive".
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