Time to sell Abercrombie & Fitch
Merrill Lynch recently upgraded ANF, causing the stock to move up $5 since the new year began. I have been bullish on ANF since June when I recommended it at $55 and if you had followed my advice, you would be up 37%. However, it is time to move out of ANF now. Inventories have been building and while Hollister remains a fresh brand with plenty of growth potential, I expect the stock to pullback.
– Faisal Laljee
Full Disclosure: I currently do not own any ANF, but my position can change anytime without notice.
