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Upgrade Alert for Abercrombie & Fitch (ANF)

By James Quinn

Abercrombie & Fitch (NYSE:ANF) was upgraded from Sell to Hold at Deutsche Bank today. The stock closed yesterday at $19.14 on volume of 4.3 million shares, above average daily volume of 1.6 million.

Abercrombie & Fitch Co. is a specialty retailer that operates stores selling casual apparel, such as knit shirts, graphic t-shirts, jeans, woven shirts and personal care and other accessories for men, women and kids. The Company operates stores in the United States and Canada as well as retails its products over the Internet.

There is potential upside of 23.0% for shares of Abercrombie & Fitch based on a current price of $19.14 and an average consensus analyst price target of $23.54. The stock should find initial resistance at its 200-day moving average (MA) of $24.54 and further resistance at its 50-day MA of $29.84.

In the past 52 weeks, shares of Abercrombie & Fitch have traded between a low of $15.42 and a high of $32.83 and closed yesterday at $19.14, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.38% higher and 0.32% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Abercrombie & Fitch on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $28.76. Since that call, shares of Abercrombie & Fitch have fallen 35.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Abercrombie & Fitch

Ticker(s): ANF