Abercrombie & Fitch

ANF · NYSE

$161.73−$0.28 (−0.17%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $162.01

ANF analyst rating

BuyConsensus of 15 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy9
Hold6
Underperform0
Sell0

12-month price target · 14 analysts

Average $167.78 (+3.7% upside)

Low: $135.34
Now: $161.73
High: $194.25

Upgrades and downgrades

The latest rating actions, newest first

ANF analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 7, 2026	Maintains	Buy	$175.00	51%
BMO Capital	Sep 9, 2026	Initiates	Outperform	$170.00	74%
Argus Research	Aug 31, 2026	Upgrade	Hold → Buy	$162.00	75%
Citigroup	Aug 27, 2026	Downgrade	Buy → Neutral	$135.00 → $156.00	53%
Barclays	Aug 27, 2026	Maintains	Equal-Weight	$114.00 → $155.00	55%
UBS	Aug 27, 2026	Maintains	Buy	$153.00 → $185.00	51%
Morgan Stanley	Aug 27, 2026	Maintains	Equal-Weight	$87.00 → $134.00	56%
Needham	Aug 26, 2026	Maintains	Buy	$108.00 → $165.00	46%
BTIG	Aug 26, 2026	Maintains	Buy	$120.00 → $175.00	51%
Telsey Advisory Group	Aug 19, 2026	Maintains	Outperform	$115.00 → $118.00	47%

The case for and against

Updated Oct 21, 2026

Bull case

Abercrombie & Fitch is supported by healthy near-term demand across Abercrombie and Hollister, with Q2 revenue of $1.27B rising 5% YoY and management seeing a favorable holiday setup as compares ease and inventory stays disciplined. The company’s fundamental strength also comes from durable profitability, with Q2 operating margin at 12.0% ex-tariff refunds, FY26 guidance lifted to 14.5%-15.0%, and confidence that DD% margins can persist despite about 250 bps of cumulative tariff pressure. Its positive outlook is further reinforced by strong free cash flow, at least $500M of planned share repurchases, and early growth opportunities in wholesale, new categories, and additional distribution channels.

Bear case

Abercrombie & Fitch is facing a negative outlook because revenue is expected to rise only low-single-digits in 2026, below guidance, as the macro environment deteriorates further. Operating margins are projected to expand by less than 100 bps to 13.5% or less, with gross margin gains capped below 220 bps by higher tariff rates and rising freight and raw material costs, while SG&A deleverages by about 100 bps from heavier marketing and store investments. Longer term, brand heat is expected to normalize for both Abercrombie and Hollister, promotional intensity may increase, and EBIT margins could revert closer to the high-single-digit range with EPS around $10, reflecting weaker fundamentals.

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