LONDON (MarketWatch) -- Citigroup downgraded American Eagle Outfitters
(AEOS:AEOS
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to sell from hold and J Crew Group Inc.
(JCG:JCG
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to hold from buy, citing valuation in both cases. On American Eagle, Citigroup said it believes the company's fundamentals will remain strong for at least the rest of 2006, but the stock's roughly 18% rise since the end of August already prices-in this strength. On J Crew, Citigroup said shares may be range-bound until the market can get further information on its operating margin potential for 2007.
