BMO Capital lowered the firm’s price target on American Eagle (AEO) to $20 from $22 and keeps a Market Perform rating on the shares. The analyst cites the company posting a “surprising” miss on revenue and gross margins, though its management has also highlighted positive customer response during key-selling periods. American Eagle’s digital sales have been less consistent, and the management noted “potential choppiness” during non-peak selling periods, which leaves the burden of proof on management execution, BMO added.
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