The traders are taking a closer look at Abercrombie after FBR upgraded the stock on Monday.
Specifically, FBR analyst Adrienne Tennant raised her price target to $46 from $39 and upgraded the stock to "Outperform" from "Market Perform" – saying Abercrombie has been more promotional over the past few months, and shoppers are responding.
As a result Tennant expects Abercrombie to win back market share lost to rivals such as Aeropostale.
Tenant also likes that Abercrombie is still expanding abroad with international sales representing about 11 percent of total sales.
FBR may be bullish but are the Fast Money traders on board?
The valuations just don’t make sense to me, says Karen Finerman.
I don’t get it either, adds Guy Adami.
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Trader disclosure: On November 30th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (PLCE), (MSFT), (WMT), (PDE), (RIG), (TGT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Calls; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO), (UNG); Najarian Owns (AAPL) Call Spread; Najarian Owns (BRCD) & (BRCD) Calls; Najarian Owns (INTC) & Short (INTC) Calls; Najarian Owns (DELL) Calls; Najarian Owns (DE) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (INTC) & (INTC) Calls; Najarian Owns (UAUA) Call Spread; Terranova Owns (SU), (GOOG), (AAPL)
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