Abercrombie’s Target, Estimates Boosted at Goldman Sachs (ANF)

in Gold Gold Investing by admin — March 5, 2010 6:58 am | no comments

Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Friday saw its price target and estimates raised by analysts at Goldman Sachs. The analyst lifted its price target for ANF shares, which had closed at $41.52 on Thursday, to $50 from $40. Goldman also raised its earnings estimates for the company, noting that its domestic business is improving, and maintained its “Buy” rating on the stock. The analyst boosted its 2010, 2011, and 2012 EPS estimates from $1.35 to $1.84, $2.29 to $2.81, and $3.50 to $4.05, respectively. Abercrombie shares rose 28 cents, or +0.7%, in premarket trading Friday. The Bottom Line We have been avoiding shares of ANF since our June 2008 coverage began, when the stock was trading at $67.37. The company has a dividend yield of 1.69%, based on last night’s closing stock price of $41.52. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $44-$48 price levels. We would remain on the sidelines for now. Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .