UPDATE: Wedbush Lowers PT on Abercrombie & Fitch from $82 to $74

WedBush has published a research report on Abercrombie & Fitch (ANF) lowering the price target. In the report, WedBush wrote, "Thus, while we recognize ANF's strong brand equity, international opportunities, and impressive fashion mix, we remain weary of difficult H2 compares, gross margin pressures, and spending for store openings. We maintain our NEUTRAL rating." Wedbush rated Abercrombie & Fitch a Neutral with a price target lowered from $82 to $74. Abercrombie & Fitch closed Wednesday at $64.87.