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Fly News Breaks for March 7, 2018
ANF
Mar 7, 2018 | 13:43 EDT
Deutsche Bank analyst Tiffany Kanaga raised her price target for Abercrombie & Fitch to $17 from $14 following the company's Q4 results but reiterates a Sell rating on the name. While the analyst expects positive total company comps to carry forward through the first half of 2018 before "very tough compares" in the second half, she expects EBITDA dollars to remain down mid- to high-teens in 2018 and 2019. Kanaga is "highly skeptical" of Abercrombie's ability to stabilize margin against "what is still a competitive mall-based apparel backdrop."
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