Abercrombie & Fitch downgraded to Market Perform amid EPS decline and stock volatility

Investment firm Raymond James downgraded Abercrombie & Fitch from "Outperform" to "Market Perform" due to expected 18.10% drop in earnings per share (EPS). Despite recent stock volatility and a 3.04% price drop, the company had previously outperformed its retail sector. Investors are awaiting the upcoming earnings report, which projects $1.24 billion in revenue but a lower EPS of $1.90. While Raymond James has a cautious outlook, the broader analyst community still holds a "Buy" rating on the stock.