Brean Murray Carret & Co. Reiterates a 'Sell' on Urban Outfitters (URBN); Still No Reason For Optimism
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Price: $41.84 -1.09%
Rating Summary:
13 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
13 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade URBN Now!
Brean Murray Carret & Co. reiterates a 'Sell' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $23.00.
Analyst, Eric Beder, said, "...We believe the company continues to register upside via aggressive store growth as opposed to fixing the fashion looks and operating more efficiently; frankly, this is a recipe for a long-term disaster, not a premium multiple, which URBN currently enjoys. We continue to view the cult of URBN investors 'euphoria' for a concept that need material changes which we are not seeing from current management, and which will become painfully obvious when 2H (the next potential turn period) disappoints, as misguided..."
Beder raises FY13 EPS estimate from $1.40 to $1.46, but remains very negative, stating continued questions on the company's balance sheet, high inventory levels, and record low operating margins.
For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $26.16 yesterday, with a 52 week range of $21.47-$33.90.
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Analyst, Eric Beder, said, "...We believe the company continues to register upside via aggressive store growth as opposed to fixing the fashion looks and operating more efficiently; frankly, this is a recipe for a long-term disaster, not a premium multiple, which URBN currently enjoys. We continue to view the cult of URBN investors 'euphoria' for a concept that need material changes which we are not seeing from current management, and which will become painfully obvious when 2H (the next potential turn period) disappoints, as misguided..."
Beder raises FY13 EPS estimate from $1.40 to $1.46, but remains very negative, stating continued questions on the company's balance sheet, high inventory levels, and record low operating margins.
For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $26.16 yesterday, with a 52 week range of $21.47-$33.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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