Our ALGO engine triggered a buy signal for ANN on August 27th at $25.06.
Since then the stock has range traded between $24.30 and $25.80.
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Based on their recent disclosures, ANN has a healthy balance sheet, is planning to maintain earnings growth through acquisitions and has outlined plans for a USD600 million share buyback scheme.
We expect to get more clarity on these actions at their AGM on October 18th.
Technically, there is a price gap above the current market from $26.80. We believe this is a realistic price target in the lead up to the AGM.
Annsell
