** Brokerage Raymond James initiates coverage on apparel maker American Eagle Outfitters AEO.N with "market perform" rating

** Sees balanced risk to reward ratio, seeks better visibility on upside potential to expectations, as sales growth slows and demand becomes choppier

** Says brokerage's checks on Google Trends and mobile app data point to softening trends for company in recent months

** Sees company's shares being range-bound until market gains confidence in growth acceleration, given expectations for slower growth, below peer average

** Brokerage also sees growth opportunity from positive momentum in jeans, attracting older consumers; expects AEO to continue repurchasing shares given its strong balance sheet and annual FCF generation

** Two of 11 brokerages rate the stock "buy", eight "hold" and one "sell"; with a median PT of $20.50

** Up to Thursday's close, stock has fallen 18% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))