In a report published Friday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Underweight rating on American Eagle Outfitters AEO, but lowered the price target from $9.50 to $9.00.
In the report, Morgan Stanley noted, “We continue to believe AEO is a structurally challenged business. AEO delivered a-5% 3Q comp, but transactions declined -LDD. Without competitive promotions, we think AEO will be unable to stem its traffic bleed; reiterate UW.”
American Eagle Outfitters closed on Thursday at $13.81.
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