Brean Murray Carret & Co. Reiterates a 'Sell' on Urban Outfitters (URBN); Expecting Start of Disappointing Season

Brean Murray Carret & Co. reiterates a 'Sell' on Urban Outfitters, Inc. (NASDAQ: URBN)/

Brean analyst said, "We are tweaking down our already below Street projections for FY13 to $1.35 (from $1.44) and FY14 to $1.70 (from $1.71)...Given what has been a tough, discount driven season for the teen retail space, with guidance for 3Q muted by denim price wars and inventory overhangs, we are somewhat baffled why investors believe Urban Outfitters will be unscathed; frankly, they haven’t, as we have seen price increases cool in 2Q and 3Q start with deeper discounts and price cuts in response to what has already become an aggressive denim discount season."

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 $31.40 yesterday.

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