Abercrombie & Fitch target raised, placed on Positive Catalyst Watch at JPMorgan

JPMorgan raised the firm’s price target on Abercrombie & Fitch to $204 from $201 and keeps an Overweight rating on the shares, which the firm is also placing on a “Positive Catalyst Watch” after having hosted a headquarters meeting with the CEO, COO, CFO and other executives. COO Scott Lipesky characterized inventories “as fresh and clean as we’d want it to be” across both the Abercrombie and Hollister brands, notes the analyst, who is raising the firm’s Q4 EPS forecast to $3.63 following the management meetings.