Goldman Sachs Downgrades Urban Outfitters, Inc. (URBN) to Neutral
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - August 22, 2016 8:33 AM EDT)
Goldman Sachs downgraded Urban Outfitters, Inc. (NASDAQ: URBN) from Buy to Neutral with a price target of $35.00 (from $33.00). Analyst Lindsay Drucker Mann said valuation appears full.
"We downgrade URBN to Neutral from Buy as our thesis on the Urban Outfitters brand has played out following the 2Q earnings beat. We believe URBN has successfully turned around the UO brand as it is now realizing healthy mid-single digit comps growth and near-peak merch margins. At the consolidated level, we believe merch margins are near average levels, with less room for meaningful improvement form here," said Drucker Mann.
Shares of Urban Outfitters, Inc. closed at $37.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Cowen Downgrades Under Armour, Inc. (UA) to Market Perform
- Jefferies Cuts Price Target on Marsh & McLennan (MMC) Following 3Q Report
- Needham & Company Cuts Price target Following Mobile Mini's (MINI) Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Downgrades
Related EntitiesGoldman Sachs, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!