Wedbush Maintains a 'Neutral' on Urban Outfitters, Inc. (URBN); Remains a "Wait and See" Story
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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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Wedbush maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target raised $1 to $26.
Wedbush analyst said, "While we are encouraged by clean inventories (-3% psf in-store) and select categories seeing better sell-throughs (dresses as well as select bottoms and tops), we believe the URBN turnaround remains a "wait and see" story and the stock could see some NT pressure against high expectations coming into the print. Specifically, we believe overhang from the sweater category will continued to plague both UO and Anthropologie, with gross margin deteriorating more than consensus estimates in H1 (down yoy though sequentially better). And we note management was cautious in setting expectations for full price selling, which could suggest current business remains markdown driven."
Wedbush lowers Q1 EPS estimate from $0.22 to $0.21, but raises FY12 from $1.50 to $1.52
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 $29.51 yesterday.
Wedbush analyst said, "While we are encouraged by clean inventories (-3% psf in-store) and select categories seeing better sell-throughs (dresses as well as select bottoms and tops), we believe the URBN turnaround remains a "wait and see" story and the stock could see some NT pressure against high expectations coming into the print. Specifically, we believe overhang from the sweater category will continued to plague both UO and Anthropologie, with gross margin deteriorating more than consensus estimates in H1 (down yoy though sequentially better). And we note management was cautious in setting expectations for full price selling, which could suggest current business remains markdown driven."
Wedbush lowers Q1 EPS estimate from $0.22 to $0.21, but raises FY12 from $1.50 to $1.52
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 $29.51 yesterday.
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