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Abercrombie Upgraded at Sterne Agee (ANF)

By
January 9th, 2013

Abercrombie Upgraded at Sterne Agee (ANF)

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Sterne Agee reported on Wednesday that they have increased their rating on apparel company, Abercrombie & Fitch Co.(ANF).

The firm has given the company a “Buy” rating and $62 price target. This price target suggests a 23% upside to the stock’s current price of $47.67. Analysts have increased ANF’s rating due to recent channel checks.

Abercrombie & Fitch shares were mostly flat during premarket trading Wednesday. The stock has increased 6% in the past year.

The Bottom Line
Shares of Abercrombie & Fitch (ANF) have a 1.47% dividend yield, based on last night’s closing stock price of $47.67. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $49-$50 price levels.

Abercrombie & Fitch Co.(ANF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.