Abercrombie & Fitch price target lowered to $165 from $180 at Raymond James

Raymond James lowered the firm’s price target on Abercrombie & Fitch to $165 from $180 and keeps an Outperform rating on the shares. While Abercrombie raised Q4 revenue guidance to 7%-8% from 5%-7%, the firm attributes the stock pressure to the revenue beat not being stronger and the company not raising margin guidance, the analyst tells investors in a research note. Abercrombie & Fitch’s strengths across product, marketing, stores, omni-channel, and global expansion are all working well, which bodes well for 2025, the firm says.