Citi analyst Paul Lejuez raised the firm’s price target on Abercrombie & Fitch to $45 from $33 and keeps a Neutral rating on the shares. The analyst expects a “big” Q2 beat versus consensus, driven by stronger sales and gross margin. The firm expects Abercrombie to raise fiscal 2023 guidance but remains cautious on the shares with the stock up 70% since the Q1 report.
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