Nomura Securities Maintains a 'Neutral' on Urban Outfitters (URBN); Pre-announced Weak 3Q Sales and Management Changes

Nomura Securities maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target lowered $2 to $28.00.

Nomura analyst, Paul Lejuez, said, "URBN pre-announced weak 3Q sales and management changes. It reported total sales +6% vs consensus of +10% and comps (incl direct) down 3% vs consensus of down 0.3%. The company did not provide EPS guidance, and will report EPS on 11/14. URBN also announced a series of management changes/new hires. Based on the weaker-than-expected sales, we are lowering our 3Q11E EPS from $0.34 to $0.31 (current consensus is $0.35). Our PT represents ~8.2x our F12E EBITDA, a premium to the softlines group, justified by its sq ft growth potential and below-normalized earnings."

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $27.21 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Phillip Securities Reiterates Buy Rating on Sea Ltd. (SE)
• Deutsche Bank Upgrades PennyMac Mortgage Investment Trust (PMT) to Buy
• LeonaBio (LONA) Price Target Cut to $17 by Citizens Amid Pipeline Development