Telsey Advisory analyst Dana Telsey reiterated an Outperform rating on the shares of Abercrombie & Fitch Co (NYSE:ANF) but lowered the price target from $190.00 to $125.00, citing greater macro uncertainty.

Abercrombie & Fitch joined other U.S. retailers in forecasting weak annual sales growth and warned of softer demand heading into spring for its namesake brand, sending its shares down 14% on Wednesday.

Abercrombie & Fitch has seen blockbuster growth over the last two years but it's expecting that pace to moderate more than Wall Street expected in the year ahead. The company is forecasting fiscal 2025 sales to rise between 3% and 5%,