Analysts: Abercrombie a Buy Following 3Q Preview and 2 More Research Notes to Read
Abercrombie & Fitch Co. (NYSE:ANF): Following a preview of Abercrombie & Fitch’s third-quarter earnings, which are due out Thursday, Brean Capital believes that the company’s earnings will be in line, expects no change to guidance though inventory levels, and predicts that trends will be of interest. Brean views investor sentiment on Abercrombie & Fitch as the worst in its history but sees realistic goals and timelines as a path to a solid longer term risk/reward; the firm rated the shares a Buy with a $48 price target.
Deere & Co. (NYSE:DE): While investors anticipate that Deere’s fiscal year 2014 guidance will predict significant declines in its revenue and earnings per share, BMO Capital believes the stock is undervalued at current levels and expects full year 2014 guidance to call for revenue to drop 5 percent and earnings per share to decline 5-10 percent; the analyst keeps an Outperform rating on Deere shares.
Nvidia Corp. (NASDAQ:NVDA): Morgan Stanley downgraded Nvidia to Underweight from Equal Weight; the analyst sees little prospect that Intel Corp. (NASDAQ:INTC) will renew its patent cross license with Nvidia in 2017, which was responsible for a majority of operating profits last year. The firm’s price target for the shares is $13.