- Analysts slashed the price target of American Eagle Outfitters Inc (NYSE:AEO) following the company's Q1 results.
- BMO Capital analyst Daniel Stroller lowered the price target to $15 (14% upside) from $23 and kept a Market Perform rating on the shares.
- Stoller noted that macro-economic problems like inflation and soaring gas prices had amplified the issues in the quarter.
- Deutsche Bank analyst Gabriella Carbone reduced the price target by half to $15 from $30 and maintained a Buy rating on the shares.
- JP Morgan analyst Matthew Boss has downgraded the company to Neutral from Overweight and lowered the price target to $15 from $20.
- Telsey Advisory Group analyst Dana Telsey lowered the price target to $17 (30% upside) from $25 and maintained a Market Perform rating on the shares.
- Telsey noted AEO reported disappointing Q1 results with sales coming in well below expectations and a high-cost base further impacting profitability.
- The analyst noted that the topline environment is expected to remain challenging relative to prior market expectations for 2Q22.
- Price Action: AEO shares are trading lower by 6.46% at $13.12 on the last check Friday.
