Jefferies Maintains Neutral Following Urban Outfitters (URBN) Q1
Jefferies maintains a Hold rating on Urban Outfitters, Inc. (NASDAQ: URBN), and lowered the price target to $36.00 (from $38.00), following the 1Q results. Analyst Randal J. Konik said that Urban division continues to improve, while Anthropologie becomes a concern.
Konik commented on URBN, saying, "The long awaited positive inflection at Urban Outfitters' namesake brand looks to be gaining traction, with another quarter of solid retail comps. However, a deceleration at Anthro now portends a reversal of fortunes for these two key brands. For the stock to work, we believe the divisions need to work in harmony. That, coupled with greater-than-expected margin pressure prevents us from becoming more positive at this stage. Maintain Hold, PT to $36."
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Shares of Urban Outfitters, Inc. closed at $40.72 yesterday.