.August 20, 2024 10:13 AM

Citi analysts are optimistic about Abercrombie & Fitch’s upcoming Q2 report, maintaining a Neutral rating and $190 price target. They anticipate strong results for both the Abercrombie and Hollister brands, with double-digit comp growth and improved gross margins. The company may raise its full-year 2024 sales guidance to 12%, potentially exceeding EPS estimates. Despite recent stock price declines, analysts see no slowdown in momentum and predict significant earnings upside for the year, maintaining a favorable risk/reward outlook ahead of the earnings release on August 28.