Piper Jaffray Raises ANF PT From $52 To $69

Piper Jaffray is increasing its EPS estimates on Abercrombie & Fitch Company ANF as follows: FQ4 from $1.19 to $1.25; FY11 from $1.84 to $1.90; and FY12 from $2.61 to $2.75. “We are also raising our price target from $52 to $69 to reflect a 25x FY12E EPS of $2.75 versus our 20x prior multiple,” Piper Jaffray writes.