Abercrombie & Fitch’s Target, Estimates Raised at Jesup & Lamont (ANF)

in Gold Gold Investment by admin — March 17, 2010 6:06 am | no comments

Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) saw its price target and earnings estimates boosted on Wednesday by analysts at Jesup & Lamont. The analyst said it now sees shares of ANF, which closed at $43.91 on Tuesday, reaching $55. Jesup also boosted its earnings estimates for the stock, citing higher recent sales, and maintained its “Buy” rating. Abercrombie shares rose 22 cents, or +0.5%, in premarket trading Wednesday. 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 $37 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 .