American Eagle price target raised to $30 after investor day at Jefferies » 08:5101/2201/22/21
Jefferies analyst Janine…
Jefferies analyst Janine Stichter raised the firm's price target on American Eagle to $30 from $27 and keeps a Buy rating on the shares after the company "delivered across all fronts" in its first investor day in recent history. Stichter was hoping for additional margin disclosure, and got it, while also noting the company's plans to right-size the AE store base in North America. While the stock has already received credit for a portion of American Eagle's opportunity, she sees further room for shares as Aerie growth is sustained, said Stichter.
American Eagle price target raised to $30 from $28 at B. Riley Securities » 07:4701/2201/22/21
B. Riley Securities…
B. Riley Securities analyst Susan Anderson raised the firm's price target on American Eagle to $30 from $28 and keeps a Buy rating on the shares following the company's investor day. The analyst believes management's plan on driving Aerie growth, focusing on American Eagle profitability, and a boost from a "Get Out" economy and stimulus will help drive the stock's valuation.
American Eagle price target raised to $26 from $19 at BMO Capital » 07:4501/2201/22/21
BMO Capital analyst…
BMO Capital analyst Simeon Siegel raised the firm's price target on American Eagle to $26 from $19 and keeps a Market Perform rating on the shares. The company's analyst day forecasted revenue improvement for Aerie and greater profitability in spite of "flattish" top-line expectations for the flagship brand, the analyst tells investors in a research note. Siegel adds that American Eagle looks to be executing a store closure program concurrent with a focus on profitable growth.
American Eagle price target raised to $29 from $25 at Deutsche Bank » 06:4301/2201/22/21
Deutsche Bank analyst…
Deutsche Bank analyst Gabriella Carbone raised the firm's price target on American Eagle to $29 from $25 and keeps a Buy rating on the shares following the company's investor meeting. The analyst commends management for laying out a multi-year plan that is largely driven by top- and bottom-line growth at Aerie. Carbone views American Eagle's plan as achievable.
American Eagle price target raised to $30 from $21 at Citi » 06:2501/2201/22/21
Citi analyst Paul Lejuez…
Citi analyst Paul Lejuez raised the firm's price target on American Eagle to $30 from $21 and keeps a Buy rating on the shares. The company's analyst day shed more light on the medium-term potential of the Aerie business as one of the most compelling growth stories in retail with expected sales growth of mid-20% through fiscal 2023, Lejuez tells investors in a research note. Aerie will be a meaningful driver of sales and EBIT growth, helping American Eagle reach greater than $5B in sales and a 10% EBIT margin by 2023, adds the analyst.
American Eagle price target raised to $28 from $22 at Barclays » 06:1101/2201/22/21
Barclays analyst Adrienne…
Barclays analyst Adrienne Yih raised the firm's price target on American Eagle Outfitters to $28 from $22 and keeps an Overweight rating on the shares. The company's Q4 update and long range plan give the analyst increased confidence in the power of its brands to gain market share post-pandemic as the dominant teen retailer in the U.S. market. Yih believes Aerie's target of $2B in sales in 2023 is achievable given its 24 consecutive quarters of double digit growth.
American Eagle targeting 600-700 AE stores in U.S. and Canada » 13:3601/2101/21/21
In investor day slides…
In investor day slides presented earlier, American Eagle noted it had 52 store closures in 2020 and is targeting 600-700 U.S. and Canada AE stores. American Eagle is closing 50 AE stores in 2021 and aims to close 200-225 stores through fiscal 2023, executives stated during the company's investor day presentations. American Eagle said it currently has 342 Aerie stores and 43% digital penetration and targets growing those figures to 550 Aerie stores and greater than 50% digital penetration by 2023. Reference Link
American Eagle to host virtual investor day » 10:2501/2101/21/21
Virtual Investor Day to…
Virtual Investor Day to be held on January 21 at 11 am. Webcast Link
American Eagle sees Q4 revenue down low single digits, consensus $1.31B » 08:1001/2101/21/21
American Eagle announced…
American Eagle announced that the company expects Q4 adjusted operating income to exceed $95M, excluding potential asset impairment and restructuring charges. This compares to reported operating income of $0.5M and adjusted operating income of $77M last year. Anticipated adjusted operating income growth is driven by strong margins, reflecting reduced promotions, higher full-priced selling and well-received holiday product assortments. Q4 revenue is expected to decrease in the low single digits, due to store revenue declines from weak mall traffic, store closures and reduced hours related to the pandemic. The digital channel maintained momentum, with double-digit growth expected across brands. Aerie's Q4 revenue is expected to increase in the high-20% range. American Eagle is expected to decline in the low double-digit range, as a result of its higher store penetration. "I'm extremely proud of our performance during the fourth quarter, which demonstrated strong growth to last year and continued quarterly sequential improvement. Compelling holiday product and marketing, combined with a disciplined approach to promotional activity drove very strong margin results," commented Jay Schottenstein, AEO's executive chairman of the board and CEO. "The team continues to instill strong inventory and expense management, and I believe we are well-positioned as we head into 2021. Thanks to our talented, passionate and dedicated associates for making our success this year possible."
American Eagle announces long term growth targets » 08:0801/2101/21/21
The company is targeting…
The company is targeting $5.5B in revenue, 10% operating margin and $550M through 2023. This represents a 15% CAGR. The companies strategic priorities include doubling Aerie to $2B in revenue and reigniting American Eagle for profit growth. Aerie revenue is expected to grow at a mid-20%'s compound annual growth rate to approximately $2B, providing profit flow through. American Eagle revenue is expected to remain roughly flat to FY19, at approximately $3.5B, with improved profitability. As part of the plan, the company will leverage customer-focused capabilities and continue to strengthen its ROI discipline. This morning, AEO also filed a Form 8-K with the Securities and Exchange Commission that provides greater transparency to American Eagle and Aerie's historical financial performance. Going forward, the company has elected to disaggregate the results of its American Eagle brand and Aerie brand operating segments, which have historically been aggregated and presented as one reportable segment. "2020 demonstrated the strength of our organization, our brands and our capabilities - and we are emerging with momentum. As the pace of change and innovation accelerated over the past year, I believe the environment is ripe with potential, and I see more opportunity for AEO than ever before. Today, I am pleased to provide greater transparency to our leading brands, our strategies and our long-term financial targets, aimed at creating lasting value for shareholders," commented Jay Schottenstein, AEO's Executive chairman of the board and CEO.