Urban Outfitters Downgraded – Analyst Cautions Against Visibility Challenges
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Telsey Advisory Group analyst Dana Telsey rated Urban Outfitters, Inc. (NASDAQ:URBN) to Market Perform from Outperform, lowering the price forecast to $44 from $49, citing the ongoing challenges to the visibility of the stock.
Urban Outfitters reported second-quarter results, where revenue increased 6.3% to $1.35 billion.
The analyst estimates that a lower tax rate relative to the market’s expectations (23.0% vs. consensus of 24.2%) benefited EPS by $0.02 in the second quarter.
Total Retail segment net sales increased 3.1%, with comparable Retail segment net sales increasing 2% driven by low single-digit positive growth in both digital channel sales and retail store sales.
Telsey noted that the …
Full story available on Benzinga.com
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