Piper Jaffray analyst, Neely Tamminga, is encouraged by indications that Urban Outfitters, Inc. (NASDAQ: URBN) is performing well in a tough environment, but maintains her Neutral rating on the belief that they have also seen a slowdown in 2Q.

Her PT drops from $35 to $32 with modest profit revisions and is based on 7x (8x prior) FY17E EV/EBITDA.

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 $24.59 yesterday.