Jefferies Still Very Negative on Urban Outfitters (URBN) Despite Hiring of Marlow

Urban Outfitters' (NASDAQ: URBN) hiring of former President Ted Marlow as its new CEO hasn't changed Jefferies negative view of the stock.

The firm reiterated its Underperform rating and $17 price target target Friday, saying "we think structural issues such as slowing growth, rising competition and declining returns are pressures that more than offset the benefit of any recent mgmt changes."

The firm said the Marlow announcment was largely anticipated.

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 $26.44 yesterday.

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