Piper Jaffray has published a research report on Abercrombie & Fitch ANF after BTS launch.
In the report, Piper Jaffray wrote, "We are reiterating our Overweight rating on shares of ANF following our initial checks on the company's chain-wide BTS launch which kicked-off on July 16. We
believe this launch has bested expectations thus far with traffic and conversion levels bolstered by social-media buzz as well as tactical promotions. Longer-term, we believe ANF will continue to gain share in the domestic market, driven by its promotional strategy amidst a highly-competitive retail landscape."
Piper Jaffray rated Abercrombie & Fitch Overweight with a price target of $85.00. Abercrombie & Fitch closed Monday at $74.46.
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Posted In: Analyst ColorAnalyst Ratingsabercrombie & fitchApparel RetailConsumer DiscretionaryPiper Jaffray
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