BUZZ-Abercrombie & Fitch rises as JPM lifts PT on strong revenue drivers

Reuters12-21 02:13

** Apparel retailer Abercrombie & Fitch's ANF.N shares up 4% at $159.38

** Brokerage J.P. Morgan raises PT to $204 from $201, retains "overweight" rating

** Says increase in new customers across segments in 2024, compared to 2023, and greater full-price selling will boost Q4 revenue

** Adds new product styles on a weekly basis at both physical stores and online, as well as co's marketing, will encourage traffic and repeat purchases

** Believes new stores opening internationally and investing in local leadership will also add to revenue

** Seven of 11 brokerages rate the stock "buy" or higher, four "hold"; their median PT is $185

** ANF stock has risen 78% YTD, including session's moves

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com))

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