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Fly News Breaks for January 3, 2017
ANF
Jan 3, 2017 | 07:03 EDT
Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Underperform saying consensus estimates have further downside as the brands "remain in transition amidst increasingly more competitive teen landscape." Further, the company's international profitability is still eroding while balance sheet concerns are mounting, Andreeva tells investors in a research note. The analyst notes her 2017 earnings per share estimate for Abercrombie is 8c versus the Street at 23c. Jefferies this morning also downgraded the shares.
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