Markets & Finance

S&P Says Buy Abercrombie & Fitch

Abercrombie & Fitch (ANF): Reiterates 5 STARS (buy); Best Buy (BBY) and Lowe's (LOW): Reiterates 4 STARS (accumulate)

Analyst: Thomas Graves

S&P sees higher consumer confidence, tax cuts, and a better jobs picture likely to aid spending. But, while early-bird specials should bring people to stores, S&P expects overall discounts to be less widespread or pronounced than in the past. S&P looks for strong categories to include products for the home and consumer electronics. Also, 2003 has one more shopping day between Thanksgiving and Christmas than in 2002. S&P expect a trend toward onlinr shopping to continue.

Steve Ballmer, Power Forward

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