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Upgrade Alert for Abercrombie & Fitch (ANF)

By Amy Schwartz

Abercrombie & Fitch (NYSE:ANF) was upgraded from Underweight to Equal Weight at Stephens today. The stock closed yesterday at $18.66 on volume of 4.4 million shares, above average daily volume of 1.6 million.

Abercrombie & Fitch (NYSE:ANF) has potential upside of 26.2% based on a current price of $18.65 and analysts' consensus price target of $23.54. The stock should run into initial resistance at its 200-day moving average (MA) of $24.54 and subsequent resistance at its 50-day MA of $29.84.

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.

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 $18.65, which is 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.3%.

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 33.5%. 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