- Telsey Advisory Group lifts its price target on American Eagle Outfitters (NYSE:AEO) ahead of Thursday's Investor Day event.
- Analyst Dana Telsey: "Over the past two quarters, the aerie business has impressed with accelerating sales growth despite COVID disruptions as both its product offering and market positioning are well-suited for the current environment. While improved from the second quarter, however, the AE business continued to lag in 3Q20, with sales declining double-digits for the third consecutive quarter. Compared to peers, it is clear that AE is not only lagging aerie, but also both A&F (down 1% in Q3) and Hollister (down 7% in Q3) in the teen specialty retail space."
- Telsey thinks the relatively in-line Q3 earnings result from AEO was disappointing when compared to some mall peers and maintains a Market Perform rating. The price target is boosted to $25 from $18 to account for higher estimates.
- AEO is on Seeking Alpha's Catalyst Watch list ahead of the investor day festivities.
American Eagle Outfitters on watch ahead of investor day event
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Symbol | Last Price | % Chg |
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AEO | - | - |
American Eagle Outfitters, Inc. |