Abercrombie Expected to Top Forecasts

NEW YORK (TheStreet) -- Abercrombie & Fitch (ANF Quote)is gaining momentum after it was upgraded on Monday by Credit Suisse.

The teen retailer was upgraded to outperform from neutral, sending shares climbing 7.2% to $37.55 in morning trading.

Analyst Paul Lejuez said Abercrombie & Fitch will most likely beat Wall Street's estimates when it reports third-quarter earnings on Friday.

Wall Street is calling for third-quarter EPS of 20 cents a share.

Lejuez is expecting better-than-expected performance at Abercrombie & Fitch's international Hollister stores, SoHo and Milan flagships and online sales.

Worth noting is that last week Abercrombie & Fitch reported weak October same-store sales, posting a 15% decline.

-- Reported by Jeanine Poggi in New York.

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