Robertson Stephens Reiterates Buy on American Eagle
American Eagle Outfitters (AEOS ) posted 7.2% higher October same-store sales, 37% higher total sales. Robertson Stephens reiterated its buy.
Analyst Janet Kloppenburg said given belief the company's fashion-right, competitively priced assortments should enable the company's second half 2001 comp, EPS performance to exceed many players in specialty apparel retail group. The analyst continues to believe shares' multiple can expand to 17x-18x a more likely $1.90 FY 03 (Jan) EPS est., yielding $34 target, about 13% appreciation.