Abercrombie & Fitch has been upgraded to sector perform from underperform at RBC Capital Markets based on improvement at the company’s teen-targeted Hollister brand. The underperform rating had been based on the long-term need for an Abercrombie turnaround, RBC said in a note. The firm already sees a turnaround happening at Hollister. “We are upgrading Hollister, essentially,” said the note. RBC is adjusting its 2015 earnings per share estimate to 68 cents from 65 cents.
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