Foreign Stores To Spearhead ANF Growth

Analysts at Deutsche Bank initiate coverage of Abercrombie & Fitch Co (NYSE: ANF) with a “hold” rating. The target price for ANF is set to $30.

The analysts say that, “Despite a host of issues in its U.S. segment, ANF’s foreign stores run 5x to 7x avg. domestic productivity, and should account for most FY10/11 store growth. With the downside case for ANF well known (i.e. no U.S. stabilization), we believe the bigger 1H10 focus will be Intl. store growth, and declines in product cost (up to 15%) and price.”

More Analyst Ratings here