Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

Abercrombie & Fitch Co Cl A / Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, raising our pice target to $25 (from $14), and upping our projections for a.k.a. Brands after the company registered better-than-expected revenue and Adjusted EBITDA for 1Q24 and raised 2024 guidance, driven by strong domestic results, as all the company's concepts continue to gain market share in the United States via new stores, expanding digital marketplace relationships and the "test and repeat" method driving newness and fashion excitement.</li><li>Further, we believe the Australian operations, especially Culture Kings, are setting up for a 2H24 turn, with leaner inventories and better product mix.</li><li>As such, even after raising our projections, we believe upside remains in 2H24 and 2025 and are confident raising our price target to $25 and reiterating our Buy rating on AKA.</li></ul>

We are reiterating our Buy rating, raising our pice target to $25 (from $14), and upping our projections for a.k.a. Brands after the company registered better-than-expected revenue and Adjusted EBITDA for 1Q24 and raised 2024 guidance, driven by strong domestic results, as all the company's concepts continue to gain market share in the United States via new stores, expanding digital marketplace relationships and the "test and repeat" method driving newness and fashion excitement.Further, we believe the Australian operations, especially Culture Kings, are setting up for a 2H24 turn, with leaner inventories and better product mix.As such, even after raising our projections, we believe upside remains in 2H24 and 2025 and are confident raising our price target to $25 and reiterating our Buy rating on AKA.

Abercrombie & Fitch Co Cl A - AKA: 1Q Beginning of a Powerful Turn; Raising PT to $25, Reiterate Buy

<ul><li>We are reiterating our Buy rating, projections and price target for a.k.a. Brands with the company announcing 1Q24 (March) results after the close on Wednesday.</li><li>We believe 1Q will be another period of rebuilding momentum and credibility, with the cleanup continuing at Culture Kings, Princess Polly adding new retail stores to the mix and rolling out new categories to become even more of a lifestyle brand and Petal & Pup leveraging new digital marketplace relationships and continued dress-driven expansion.</li><li>Further, we believe management remains laser focused on reducing both inventory exposure and net debt.</li></ul>

We are reiterating our Buy rating, projections and price target for a.k.a. Brands with the company announcing 1Q24 (March) results after the close on Wednesday.We believe 1Q will be another period of rebuilding momentum and credibility, with the cleanup continuing at Culture Kings, Princess Polly adding new retail stores to the mix and rolling out new categories to become even more of a lifestyle brand and Petal & Pup leveraging new digital marketplace relationships and continued dress-driven expansion.Further, we believe management remains laser focused on reducing both inventory exposure and net debt.

Abercrombie & Fitch Co Cl A - AKA: 1Q Preview: Building for the Future; Reiterate Buy, Price Target

<ul><li>We are initiating coverage of a.k.a. Brands Holding Corp.</li><li>("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based brands focused on Generation Z and Millennial consumers, with a Buy rating and $14.00 price target, or 10.9X our 2025 EBITDA projection of $20.2 million.</li><li>The company's brands include: 1) Princess Polly, focusing on 15 to 25 year-old women; 2) Petal & Pup, which offers feminine styles for 25 to 34 year-old women; 3) Culture Kings, a street wear destination; and 4) mnml, a high-quality street wear designer focused on bottoms.</li></ul>

We are initiating coverage of a.k.a. Brands Holding Corp.("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based brands focused on Generation Z and Millennial consumers, with a Buy rating and $14.00 price target, or 10.9X our 2025 EBITDA projection of $20.2 million.The company's brands include: 1) Princess Polly, focusing on 15 to 25 year-old women; 2) Petal & Pup, which offers feminine styles for 25 to 34 year-old women; 3) Culture Kings, a street wear destination; and 4) mnml, a high-quality street wear designer focused on bottoms.

AKA: Initiating Coverage of a.k.a. Brands with Buy and $14 PT: Upside Ahead

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Abercrombie & Fitch Co.</li><li>emerged from 2023 with significant achievements, marking it as a defining year for the company.</li><li>The brand witnessed a 15.8% increase in sales, reaching $4.28 billion, which not only represents its second highest annual sales level in history but also a testament to its robust growth strategy.</li></ul>

Abercrombie & Fitch Co.emerged from 2023 with significant achievements, marking it as a defining year for the company.The brand witnessed a 15.8% increase in sales, reaching $4.28 billion, which not only represents its second highest annual sales level in history but also a testament to its robust growth strategy.

Abercrombie & Fitch Co:  Initiation of Coverage - Its Enhanced Product Differentiation & Expansion Responsible For The Recent Growth? - Major Drivers

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.</li>
<li>Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.</li>
<li>This bottom-up analysis also pointed to bullish macro conclusions about the economy.</li>
</ul>


A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.
Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.
This bottom-up analysis also pointed to bullish macro conclusions about the economy.


United States

Abercrombie & Fitch Co.  a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women and kids.

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Abercrombie & Fitch Co Cl A (ANF US)

Abercrombie & Fitch Co Cl A - AKA: 1Q Beginning of a Powerful Turn; Raising PT to $25, Reiterate Buy

We are reiterating our Buy rating, raising our pice target to $25 (from $14), and upping our projections for a.k.a. Brands after the company...

Small Cap Consumer Research

Abercrombie & Fitch Co Cl A - AKA: 1Q Preview: Building for the Future; Reiterate Buy, Price Target

We are reiterating our Buy rating, projections and price target for a.k.a. Brands with the company announcing 1Q24 (March) results after the close...

Small Cap Consumer Research

AKA: Initiating Coverage of a.k.a. Brands with Buy and $14 PT: Upside Ahead

We are initiating coverage of a.k.a. Brands Holding Corp. ("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based...

Small Cap Consumer Research

Abercrombie & Fitch Co: Initiation of Coverage - Its Enhanced Product Differentiation & Expansion Responsible For The Recent Growth? - Major Drivers

Abercrombie & Fitch Co. emerged from 2023 with significant achievements, marking it as a defining year for the company. The brand witnessed a...

Baptista Research

29 Reasons to Be Bullish

A bottom-up scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases...

Cam Hui

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