Jefferies predicts difficulties ahead for American Eagle Outfitters.
Randal J. Konik, an analyst, has moved the stock to hold from buy. The expert predicts that the stock will do poorly as a result of a decrease in consumer spending brought on by the impending recession. He is now only looking to make $16 per share instead of $18. The new goal is near where American Eagle traded on Tuesday, which is where they set it.
Konik also reduced his revenue growth forecast for 2023, anticipating flat revenue that year.