Deutsche Starts Abercrombie At Sell, Citing Little Visibility Into Turnaround

bercrombie & Fitch ( ANF ) is trading lower Wednesday, after Deutsche Bank initiated coverage of the stock with a Sell rating. Analyst Tiffany Kanaga and her team have a $25 price target on the stock. She writes that her bearish view comes from the fact that Abercrombie’s stock reflects an “optimistic acceleration” in earnings and comparable sales over the next two years, a view that she believes overlooks the challenges associated with turning around the brand and overcoming negative perception, all amid an environment with elevated promotional activity. Read More »