Urban Outfitters, Inc. (URBN) PT Lowered to $17 at RBC Capital; 'Secular & Self-Inflicted Pressures Posing Risk'

RBC Capital lowered its price target on Urban Outfitters, Inc. (NASDAQ: URBN) to $17.00 (from $21.00) while maintaining a Sector Perform rating, following a review the company's sales outlook.

Analyst Brian Tunick notes that management updated the markets on negative quarterly comps, with a deceleration in womans apparel, as gross margins remain under pressure due to occupancy deleveraging, markdowns and delivery expense deleveraging, while ramping direct channels.

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