Upgrade Alert for American Eagle Outfitters (AEO)
American Eagle Outfitters (NYSE:AEO) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $17.94 on volume of 7.2 million shares, above average daily volume of 4.9 million.
In the past 52 weeks, American Eagle Outfitters share prices have been bracketed by a low of $12.78 and a high of $18.49 and closed yesterday at $17.94, 40% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 0.01% lower over the past week, respectively.
American Eagle Outfitters, Inc. retails men's and women's casual apparel, footwear, outerwear, and accessories. The Company's products include jeans, khakis, T-shirts, and other similar apparel. American Eagle operates in the United States.
American Eagle Outfitters (NYSE:AEO) has potential upside of 8.0% based on a current price of $17.94 and analysts' consensus price target of $19.38. The stock should discover initial support at its 200-day moving average (MA) of $15.75 and subsequent support at its 50-day MA of $15.74.
SmarTrend recommended that subscribers consider buying shares of American Eagle Outfitters on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.39. Since that recommendation, shares of American Eagle Outfitters have risen 9.4%. We continue to monitor AEO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades american eagle outfitters