Abercrombie & Fitch (NYSE:ANF) Top 2011 Pick for Jefferies (NYSE:JEF)

Citing a growing business in the U.S. and margins operating at level, Abercrombie & Fitch (NYSE:ANF) is considered the Top Pick of Jefferies (NYSE:JEF) for 2011.

Jefferies said, "We see an accelerating US biz, margin stabilization and international sales at a tipping point which likely means substantial sales."

They raised their EPS estimates for full year 2010 and full year 2011 to $2.05 and $3.90 from $1.95 and $3.80.

Jefferies maintains their Buy rating on Abercrombie & Fitch, $58.14, up $1.15, or 2.02 percent. They raised their price target on them from $75 to $85.