Barclays Maintains an 'Overweight' on Urban Outfitters (URBN); Lowering Estimates and Price Target

Barclays maintains an 'Overweight' on Urban Outfitters, Inc. (NASDAQ: URBN) price target lowered by $3 to $32.

Barclays analyst says, "While we continue to look forward to Judy Collinson's impact on the Anthropologie business in October, our sense is there is increased markdown risk associated with the poor selling product; thus we are now looking for Q3 gross margin deterioration in line with the first half. Given the lag in the Anthropologie turn, we are reluctant to project improvement in Q4/11, thus we are tempering those comp and margin assumptions as well. As a result, we are lowering our 3Q estimate from $0.40 to $0.34, 4Q from $0.53 to $0.48, 2011 from $1.50 to $1.40, and 2012 from $1.85 to $1.75."

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 $25.78 yesterday.

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