Investment bank Jefferies increased its stock price target for clothing retailer Abercrombie & Fitch Co. (NYSE: ANF) to $149 from $120 on Wednesday. Jefferies maintained a Buy rating for Abercrombie.
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Recent Market Share Gains
The target price adjustment comes after Abercrombie gained significant market share in 2023 in both womenswear and menswear, in the U.S. and globally.
According to Euromonitor, Abercrombie moved up 4 spots in U.S. apparel market ranking and 2 spots globally last year.
Growth Categories
The company saw especially robust growth in jeans and outerwear. Jefferies believes Abercrombie is well-positioned for further market share gains.
2025 Financial Outlook
Looking ahead, Jefferies expects Abercrombie to give strong but achievable financial guidance for 2025. Analysts see potential for Abercrombie to surpass current market expectations.
The new $149 price target reflects Jefferies’ confidence in Abercrombie’s strategic direction and competitive strengths in the apparel industry.
