Abercrombie's Q2 2024 Was Great; The Future Is More Muted, But The Stock Is Now A Buy (Upgrade)
A&F(ANF) Seeking Alpha·2024-08-29 22:04
jetcityimage Abercrombie & Fitch's (NYSE:ANF) 2Q24 results were really good, yet the market dropped the price by 17%, signaling lofty expectations can thump on good company development. The results do not provide a lot of information about the future, given ANF management's discrete approach to earning calls, and conservative guidance. However, the stock is down 30% since my last article, and I believe this merits a revision of the thesis. Today, the market values ANF at a multiple of 13x or, conversely ...