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Stifel Nicolaus' Richard Jaffe says that by eliminating the operating loss associated with 77kids, American Eagle will see its earnings per share increase. "We believe that it is encouraging to see CEO Hanson taking initiative to improve the profitability of the company, and focus on those business opportunities that offer the highest return potential," he wrote. Jaffe maintained a "Buy" rating and $22 price target. SHARE ACTION: American Eagle's stock rose $1.97, or 10.7 percent, to $20.37 in afternoon trading. The shares have more than doubled since bottoming out at $10 in early September. They are approaching their 52-week high of $21.13 set early this month.
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