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Fly News Breaks for November 23, 2016
AEO, ANF
Nov 23, 2016 | 05:48 EDT
Deutsche Bank analyst Tiffany Kanaga downgraded Abercrombie & Fitch (ANF) to Sell saying the Abercrombie brand turnaround is yet to gain traction. In a research note partially titled "Pre-Thanksgiving Rally Full of Stuffing, Not Meat," Kanaga writes that she expects a "prolonged recovery" for the Abercrombie brand. American Eagle (AEO) remains her preferred way to play the teen apparel space. The analyst cut her price target for Abercrombie shares to $13 from $14. The retailer closed yesterday up 73c to $15.49.
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