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Wunderlich not buying the Abercrombie & Fitch M&A buzz

Published 05/11/2017, 10:48 AM
© Reuters. Wunderlich not buying the Abercrombie & Fitch M&A buzz
ANF
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  • Wunderlich Securities is selling the news that Abercrombie & Fitch (NYSE:ANF) is looking to sell itself.
  • Analyst Eric Beder's brutal assessment is posted below.
  • "Frankly, given: 1) the continued free fall at Abercrombie, 2) a history of mergers in the specialty retailing sector not working, and 3) a brutal operating environment, we believe the potential, especially for a material premium for ANF, is minimal and we see little potential for a transaction at the current time. As such, we are lowering our rating to Sell and would advise investors to take profits on the "transaction hype," writes Beder.
  • Shares of ANF are down 0.56% on the day, which stacks up favorably amid a mall sector meltdown.
  • Previously: Abercrombie & Fitch suitors said to include American Eagle and Express (May 10)
  • Previously: Abercrombie & Fitch confirms talks with suitors (May 11)
  • Now read: Stage Stores: It Is Not As Bad As It Seems


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