American Eagle Analysts Increase Their Forecasts After Better-Than-Expected Q2 Results

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American Eagle Outfitters Inc (NYSE:AEO) reported better-than-expected results for the second quarter on Wednesday.

American Eagle reported second-quarter revenue of $1.28 billion, beating analyst estimates of $1.24 billion, according to Benzinga Pro. The company reported second-quarter earnings of 45 cents per share, beating estimates of 20 cents per share.

"We were pleased to see an improvement in the business during the second quarter driven by higher demand, lower promotions and well-managed expenses, all of which exceeded our expectations," said Jay Schottenstein, executive chairman and CEO of American Eagle.

American Eagle said it expects comparable sales growth in the low single-digit range for both the third and fourth quarters.

American Eagle shares gained 35.5% to trade at $18.46 on Thursday.

These analysts made changes to their price targets on American Eagle following earnings announcement.

• UBS analyst Jay Sole maintained American Eagle with a Buy and raised the price target from $19 to $21.5.
• Barclays analyst Adrienne Yih maintained the stock with an Underweight rating and raised the price target from $9 to $14..
• Citigroup analyst Paul Lejuez maintained American Eagle with a Neutral and raised the price target from $11 to $15.
• Jefferies analyst Corey Tarlowe maintained the stock with a Hold and raised the price target from $11 to $17.

Considering buying AEO stock? Here’s what analysts think:

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