UPDATE: Goldman Sachs Raises PT on Abercrombie & Fitch to $90

Goldman Sachs is out with its report today on Abercrombie & Fitch ANF, raising its PT to $90 from $88. In its report, Goldman Sachs writes, "On 2Q gross margin and a lower tax rate, we raise 2011/12/13E EPS to $3.35/$5.65/$7.64 from $3.27/$5.44/$7.33 (our 3Q total SG&A estimate was in line with guidance). On higher estimates, our six-month price target goes to $90 from $88 (16X EPS, 7X EBITDA)." Goldman Sachs maintains Buy on ANF. At the time of posting, shares of ANF were trading pre-market at $64.25, down 0.96% from Wednesday's close.