Market Overview

Urban Outfitter Shares Tumble On Wedbush's Concern Over Anthropologie Slowdown

Related URBN
CNBC's Stock Pops & Drops From October 17
TGIF As Markets Rally; S&P 500 Posts Longest Weekly Loss Streak Since 2011
Gap Scores 'Buy' Upgrade (Fox Business)

Wedbush analyst Morry Brown downgraded shares of Urban Outfitters (NASDAQ: URBN) from Outperform to Neutral and lowered the price target from $46.00 to $37.00 on the risk associated with Anthropologie.

Brown highlighted that Anthropologie's dramatic increase in sales promotions suggests a slowdown in sales. The analyst wrote, "While sales trends at Anthro likely remain near the top of the sector, incremental promotions -- even if minor -- suggest the potential for a modest slowdown."

Wedbush added that Urban Outfitters has "less margin for error" given the risk from the Anthropology slowdown.

The firm does not expect any change for the Urban brand. Brown sees in-line promotions and clearance results.

Shares of Urban Outfitter closed at $33.86 on Monday. The stock fell as much as 3.66 percent Tuesday morning to $32.62. Shares are currently down 1.24 percent.

Latest Ratings for URBN

DateFirmActionFromTo
Oct 2014NomuraMaintainsNeutral
Oct 2014BarclaysMaintainsEqual-weight
Oct 2014MacquarieMaintainsNeutral

View More Analyst Ratings for URBN
View the Latest Analyst Ratings

Posted-In: Morry Brown WedbushAnalyst Color Short Ideas Downgrades Price Target Analyst Ratings Trading Ideas

 

Related Articles (URBN)

Around the Web, We're Loving...

Get Benzinga's Newsletters