Abercrombie & Fitch was drawing heavy retail-trader chatter on Stocktwits late Monday, with 24-hour message volume for the ticker surging over 3,900%. 

Earlier in the day, JPMorgan downgraded ANF to 'Neutral' from 'Overweight,' causing the stock to drop 7.8%, its worst performance in six months, and close at its lowest level since June. However, retail sentiment turned 'bullish,' from 'bearish' the previous day, with several Stocktwits members viewing the weakness as a buying opportunity.

"$ANF cashflow and margins strong, exactly what you want in an environment like this," said one bullish user.

Another posted: "$ANF back in on the dip. Buy back cranking up before years end. JP morgan loading them upgrading in next 90 days. All a game."

Notably, the clothing brand's stock rose 0.4% in the extended session.

JPMorgan's downgrade was based on internal checks, which showed revenue weakness at Abercrombie & Fitch. Abercrombie & Fitch, according to the research firm. The "below-plan Abercrombie revenues with continued conversion and AUR (average unit retail) headwinds (are) more than offsetting positive traffic growth," it noted.

JPMorgan lowered its estimates for the company's sales growth and its price target on the stock to $103 from $145. The target still implies a 32% upside from the stock's last close.

Currently, five of the 11 analysts covering ANF have given it a 'Buy' or higher rating, while seven rate it 'Hold,' according to Koyfin data. Their average price target is $110.56.

To be sure, in its last quarterly report, released in August, Abercrombie & Fitch beat sales and profit expectations and raised its full-year revenue target. It, however, also raised its estimate of additional costs from U.S. trade tariffs to $90 million this year, up from $50 million.

ANF shares are down 58% year-to-date.

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