Information Provided By:
Fly News Breaks for February 18, 2020
Feb 18, 2020 | 06:17 EDT
Cowen analyst Oliver Chen downgraded American Eagle (AEO) to Market Perform from Outperform with a price target of $14, down from $15. The analyst sees downside risk to the company's sales, traffic, and promotions. American Eagle's apparel assortment is now a work in progress given execution issues in tops, Chen tells investors in a research note. Further, the analyst believes traffic pressure at lower productivity stores may be a risk given Macy's (M) closures and American Eagle's "relatively saturated" 945 store base. Chen says that while tariff risk has waned, he's concerned around American Eagle's ability to drive sustainable traffic without sacrificing merchandise margin, especially in the face of tops' underperformance and general mall traffic headwinds.
News For AEO From the Last 2 Days
There are no results for your query AEO