American Eagle (AEO) Stock: $8 Target From BofA

By Amit Chowdhry ● Jul 30, 2022
  • The shares of American Eagle recently received an $8 price target from BofA. These are the details.

The shares of American Eagle recently received an $8 price target from BofA. And BofA analyst David Buckley adjusted the rating on American Eagle from “Neutral” to “Underperform.”

Buckley adjusted the rating while noting that he expects the company’s results to fall short of expectations in the near term. So he lowered his FY22 and FY23 EPS estimates by 24% and 35%, respectively. This reflects decelerating trends in the teen clothing category along with a continued shift from athleisure into occasion wear.