Abercrombie & Fitch Might Be Worth $60 (ANF, JCG)

Steve Grasso said on CNBC's Fast Money Halftime Show that Abercrombie & Fitch ANF may still be undervalued despite trading near 52-week highs on Monday. He noted that if you apply a similar multiple to ANF as TPG Capital paid for J. Crew JCG you have a $60 stock. Despite broad market weakness, Abercrombie shares are firmly in positive territory on Monday. The stock is up 1.26% at $49.07.