Categories
investing.com

Citi Predicts Abercrombie & Fitch Q1 Earnings Miss and Guidance Reduction, But Believes Market Has Already Factored It In

Citi analysts have cut their price target for Abercrombie & Fitch Company (NYSE:ANF) to $24 from $32 per share, while maintaining a Neutral rating on the stock. They expect the firm to miss 1Q EPS estimates due to lower sales and gross margins, and anticipate a guidance cut for 2Q. Citi models 1Q EPS of ($0.13) versus consensus of $0.01, and 2Q EPS of ($0.20) versus consensus of $0.03. Despite the negative outlook, the analysts believe the stock’s risk/reward is balanced into the print as the weaker 1H/F23 guidance cut is largely anticipated.