Market Overview

UPDATE: BMO Capital Markets Downgrades Urban Outfitters to Market Perform on Slower Turnaround

Related URBN
Top 4 Mid-Cap Stocks In The Apparel Stores Industry With The Highest EPS
Markets Little Changed Ahead Of 4th Of July Break
Gap Scores 'Buy' Upgrade (Fox Business)

BMO Capital Markets downgraded Urban Outfitters (NASDAQ: URBN) from Outperform to Market Perform and maintained a $45.00 price target.

BMO Capital Markets commented, "While the core Urban brand has recovered nicely (and we expect that momentum to continue), we thought we'd see clearer signs of traction at Anthropologie by this point. The division has indeed made improvement with respect to product and pricing for Spring, but overall remains a work in progress. We now believe the turnaround will be more moderately paced, especially against the backdrop of a mixed consumer this spring. At 40% of the business, more headway with Anthro is important to the pace of improvement and therefore the pace of upside on the stock."

Urban Outfitters closed at $41.43 on Thursday.

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (URBN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters