American Eagle Stock Dives as Retailer Pulls Outlook, JPMorgan Cuts Price Target
Key Takeaways
- Shares of American Eagle Outfitters fell Wednesday, a day after the clothing retailer withdrew its full-year outlook “due to macro uncertainty.”
- JPMorgan analysts responded by lowering their price target for the stock.
- Analysts highlighted surprise weakness in the Aerie brand’s fleece products, as “consumers showed resistance on price.”
American Eagle Outfitters (AEO) stock fell Wednesday, a day after the clothing retailer pulled its full-year outlook and JPMorgan analysts responded by lowering their price target.
The analysts kept their “neutral” rating, but lowered their price target to $9 from $10. The rating is in line with most other analysts tracked by Visible Alpha, but the price target is now further below the…
