Wunderlich Securities Lowers FY15/FY16 EPS Projections For Urban Outfitters, Inc.

In a report published Wednesday, Wunderlich Securities analyst Eric Beder reiterated a Buy rating and $42.00 price target on Urban Outfitters, Inc.

. In the report, Wunderlich Securities noted, “We are lowering our FY15 and FY16 EPS projections after Urban Outfitters (URBN) released their 2Q 10-Q, which announced that retail comps are ‘down low single digits' so far in 3Q. While disappointing, we are not highly surprised, as the store environment in the teen sector has remained difficult. We believe the 10-Q release points to the turn being pushed back even further than back-to-school, and makes the Holiday season even more crucial. We have maintained our Buy rating and $42 price target, but recognize URBN will be under pressure today and is running out of chances to show investors they can return the Urban Outfitters chain to some level of prominence. The 10-Q announcement now puts even more pressure on management to craft a cohesive vision on the company's investor day on 9/23.” Urban Outfitters closed on Tuesday at $38.89.