Why American Eagle Stock Was Flying High Today
Shares of apparel company American Eagle Outfitters (NYSE: AEO) were flying higher on Wednesday after scoring an upgrade from an analyst at Barclays. As of 12:15 p.m. EDT today, the stock was up 7%.
According to TheFly.com, Barclays analyst Adrienne Yih foresees a retail recovery next year. Furthermore, retail chains have improved e-commerce operations because of the pandemic, and strong inventory management at stores could improve profit margins. Because of this, Yih raised the target price for American Eagle stock to $18 per share.
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Source Fool.com
