Abercrombie & Fitch price target lowered to $165 from $193 at UBS

UBS lowered the firm’s price target on Abercrombie & Fitch to $165 from $193 and keeps a Neutral rating on the shares. The analyst thinks Abercrombie’s Q2 report showcased the brands’ ongoing momentum. The company’s initiatives should drive multi-year growth but there is limited upside to Street estimates given incremental cost headwinds, the analyst tells investors in a research note.