Abercrombie & Fitch Likely To Raise FY24 Outlook, UBS Says -- Market Talk

Dow Jones11-15

1348 ET - Abercrombie & Fitch's 3Q results should beat Wall Street expectations and cause the retailer to raise its FY24 operating outlook, according to UBS in a research note. The analysts say the Abercrombie brand's fundamentals remain solid, with Hollister gaining momentum. Conversations with investors indicate sentiment around the company is bullish, although it doesn't seem as high as in previous quarters, the analysts add. UBS raises its target price to $170 from $165. Shares rise 3.3% to $146.45. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

November 14, 2024 13:48 ET (18:48 GMT)

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