Why American Eagle Outfitters Is Trading Higher Today
Shares of American Eagle Outfitters (NYSE: AEO) are trading 4% higher Wednesday morning, after an analyst at J.P. Morgan upgraded his outlook on the stock to "overweight" with a $17 price target, some 47% above where it closed yesterday.
TheFly.com says analyst Matthew Boss indicates that the 45% decline in the apparel retailer's stock over the last 18 months means the market has "mis-priced" its shares and is ignoring strong growth drivers for the company.
Image source: American Eagle Outfitters.
Source Fool.com
