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Fly News Breaks for November 23, 2015
ANF
Nov 23, 2015 | 07:30 EDT
Stephens analyst Rick Patel believes Abercrombie's & Fitch's 25% rally following its Q3 beat creates "much higher" expectations despite a lack of visibility amid choppy market conditions and the potential for a highly promotional holiday season throughout the retail group. The analyst raised his estimates and increased his price target to $19 from $16 on A&F shares, but keeps an Underweight rating, citing visibility and a cautious long-term view.
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