Urban Outfitters (URBN) PT, Estimates Cut at Maxim Group
Maxim Group analyst Rick Snyder lowered estimates and his price target on Hold-rated Urban Outfitters, Inc. (NASDAQ: URBN) to $26.00 (from $28.00) on continued poor performance.
"We believe that the continued poor performance from the Urban Outfitters brand will cause investors to reevaluate the prospects for a turnaround," Snyder said. "This will likely cause multiple contractions as investors take a wait-and-see approach to the Urban Outfitters brand results. We anticipate that this will bring the EV/EBITDA multiple into a level more in line with other specialty retailers as opposed to a premium valuation, which the shares have been afforded in the past."
The firm is 2015 EPS estimate to $1.61, from $1.74, and 2016 EPS estimate to $1.72, from $1.94.
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 $28.79 yesterday.