Barclays Maintains an 'Overweight' on Urban Outfitters (URBN); Highlights From Meetings with Management
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Price: $77.81 +2.11%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $32.00.
Barclays analyst says, "1. While there was no discussion on current trends in the business, we would not characterize the meetings as upbeat with regard to the next near term. We felt management took more ownership of the fashion miss than we have heard in the past, which we thought was somewhat refreshing. Management was very clear that the weakness in the business is due to a fashion miss, not a fashion shift, and that the miss is not attributable to the environment, to the market volatility, nor to pricing."
"2. Judy Collinson, Executive Director of Women's Apparel joined Anthropologie in Q1/11 and her first tweaks on the Anthropologie product are flowing into the stores currently, but she will have fully touched the product in the January-March flows. Johanna Uurasjarvi, Executive Creative Design Director, returned to Anthropologie in May/June and her impact is expected to unfold gradually from Q4 through March...URBN management reminded us that the stores will run sale in January, thus the first opportunity for a real check on these efforts is February 2012."
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 $22.49 yesterday.
Barclays analyst says, "1. While there was no discussion on current trends in the business, we would not characterize the meetings as upbeat with regard to the next near term. We felt management took more ownership of the fashion miss than we have heard in the past, which we thought was somewhat refreshing. Management was very clear that the weakness in the business is due to a fashion miss, not a fashion shift, and that the miss is not attributable to the environment, to the market volatility, nor to pricing."
"2. Judy Collinson, Executive Director of Women's Apparel joined Anthropologie in Q1/11 and her first tweaks on the Anthropologie product are flowing into the stores currently, but she will have fully touched the product in the January-March flows. Johanna Uurasjarvi, Executive Creative Design Director, returned to Anthropologie in May/June and her impact is expected to unfold gradually from Q4 through March...URBN management reminded us that the stores will run sale in January, thus the first opportunity for a real check on these efforts is February 2012."
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 $22.49 yesterday.
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