Boston, MA 09/18/2014 (wallstreetpr) – American Eagle Outfitters (NYSE:AEO)‘s future is bright, or at least that is what a number of analysts tracking the stock have been saying in the recent times. The company recently posted quarterly earnings that exceeded expectation, and the CEO said that the good results still did not reflect their potential. That validates the claims by analysts that better things are still ahead of the specialty retailer. Investors may want to keep a close eye on the stock.
Sentiments on Wall Street are changing positively for American Eagle Outfitters. The latest evidence to that is a move by analysts at Stephens. The analysts upgraded American Eagle Outfitters (NYSE:AEO) to an “overweight” from “equal-weight”. They did not stop there, they moved another step to issue a new target price of $16 from $13, on the stock, which goes further to explain their feeling that better things are still ahead of the company.
Positive Wall Street views
Stephens is just one bullish rating firm that believes that investors are in for good things by sticking with American Eagle Outfitters (NYSE:AEO). The other rating firms that have been responding to the new reality at American Eagle Outfitters include BMO Capital Markets. Analysts at the rating firm recently increased their target price on the stock to $12 from $11. In overall, Wall Street has a consensus “hold” rating on American Eagle Outfitters (NYSE:AEO) and a target price of $13.28, which reflects the views of the analysts that are currently covering the stock.
Room to do better in 2014
As much as outsiders are bullish on the prospects of the $2.75 billion specialty retailer, insiders are equally excited at the opportunities lying ahead of them. The company’s interim CEO, Jan Schottenstein, said that second half of 2014 was progressing well for the company, and they hope to achieve better results. He recalled that while their 2Q2014 results were ahead of their projections, that did not truly reflect their potential, saying that American Eagle Outfitters (NYSE:AEO) has enough room to do better in the balance of 2014.
