Analyst Randal J. Konik downgraded the retailer to hold from buy, citing the company's exposure to a slowdown in consumer spending.
American Eagle Outfitters could be in trouble going forward, according to Jefferies. Analyst Randal J. Konik downgraded the retailer to hold from buy. The analyst sees the stock underperforming in a likely recession and resulting slowdown in consumer spending. He also lowered his price target to $16 from $18. The new target is just below where American Eagle closed Tuesday.
Konik added that at 14 times forward earnings, the stock is trading at a premium to its three and five-year average valuations. American Eagle shares have rallied more than 14% in 2023. They are also up 64% since the end of September. The stock dipped 1.8% in the premarket. AEO YTD mountain AEO in 2023 Jefferies also downgraded other apparel companies to hold from buy, AKA Brands, Torrid Holdings and Lulu's Fashion Lounge, due to exposure to a demand slowdown.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
In Search of a Golden EagleThree years ago, Paste editor Josh Jackson couldn't name half the birds in his backyard. Now he finds himself driving two hours to go look at rare birds that have showed up the corner of his of state.
Baca lebih lajut »
Eagle Scout candidate brings new opportunities to members of a South Bronx community center | amNewYorkPierce Brookins, an Eagle Scout candidate from Troop 777 Manhattan, is working on an Eagle Scout project that will provide new opportunities to the South Bronx community.
Baca lebih lajut »
Dothan Eagle’s Nurses: The Heart of Health Care awards seeks nominationsFrom delivering babies to saving lives in emergency rooms, nurses perform countless difficult and sometimes heartbreaking duties each day.
Baca lebih lajut »
From the Archive: 1980 AMC Eagle TestedWe marvel as AMC's ugly duckling becomes an eminently successful bird of prey.
Baca lebih lajut »
Black Belt Eagle Scout Makes Music to Honor Their Ancestors’ LandThe musician—whose songs have made their way onto ‘Reservation Dogs’ as well as Ulla Johnson’s NYFW runway—has a new album that pays tribute to a sense of home.
Baca lebih lajut »