Barclays Maintains an 'Overweight' on Urban Outfitters (URBN); Good Quarter, But Early Read on Anthropologie's Q3 Disappoints

Barclays maintains an 'Overweight' on Urban Outfitters, Inc. (NASDAQ: URBN) price target lowered from $37 to $35.

Barclays analyst says, "After posting a flat stores comp in Q2, our sense is Anthropologie's comp declined to -6% (including direct) in the first 10 days of August, in line with the figure reported in Q1, and a decline on a 2- and 3-year basis. As a result, we are lowering our 3Q 2011 estimate to $0.40 from $0.47, 2011 to $1.50 from $1.56, and 2012 to $1.85 from $1.99."

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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