UPDATE: Morgan Stanley Reiterates on Urban Outfitters Following Soft 4Q Sales
In a report published Tuesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating on Urban Outfitters (NASDAQ: URBN), but lowered the price target from $49.00 to $46.00.
In the report, Morgan Stanley noted, “URBN reported below consensus 4Q sales, indicative of the tough January across Softlines. We expect the softness to persist through 1Q. However, UO process improvements lead to a 2H recovery, in our view. At 15x FY15 P/E valuation looks attractive and we remain Overweight.”
Urban Outfitters closed on Monday at $36.64.
Latest Ratings for URBN
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.