American Eagle Outfitters upgraded to "overweight"

11/04/03 - Prudential Financial

NEW YORK, November 4 (New Ratings) – Analyst Stacy W Pak of Prudential Financial upgrades American Eagle Outfitters (AEOS) from "neutral" to "overweight," while raising her estimates for the company. The target price has been raised from $16 to $18.

In a research note published this morning, the analyst mentions that the company's stock is a more attractive investment option than those of the sector peers. A decline in the company's October 2003 earnings is likely, the analyst says. However, the recent changes in the company’s management would boost investor confidence, Prudential Financial believes.