Barclays upgrades Abercrombie & Fitch to Equal Weight with $114 target amid strong institutional buying.

Barclays raised its rating on Abercrombie & Fitch to "Equal Weight" from "Underweight" and set a price target of $114, slightly below the current $118.53 stock price. This upgrade reflects a more positive outlook despite a modest potential downside. Institutional investors like Amundi, Vanguard, and AQR Capital have significantly increased their holdings, signaling confidence. The stock has surged nearly 24% in the past month, outperforming its sector, as investors anticipate the company's earnings report on August 26, 2026, with expected revenue growth of 2.76% year-over-year.