Nomura Securities Mmaintains a 'Neutral' on Urban Outfitters (URBN); Lowers PT & Estimates

Nomura Securities maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target lowered from $33 to $30.

Nomura analyst, Paul Lejuez, says, "Post 2Q results, reducing estimates and TP. URBN reported 2Q EPS of $0.35 vs. our est of $0.35 and consensus of $0.32. While the mkt likely expected more optimistic comments about 2H GM, the tone of the call reflected mgmt’s uncertainty about the direction of the business. Management indicated that the Anthro business has fallen off recently (we believe Anthro specific). We are reducing our F11E from $1.46 to $1.40 and our TP from $33 to $30, representing 8.3x our F12E EBITDA. We prefer ANF, trading at ~6.5x our FY12E EBITDA. vs. URBN which trades at over 8x our F12E EBITDA."

For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $29.69 yesterday.

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