In a report published Tuesday, Jefferies analyst Randal J. Konik reiterated a Buy rating on Urban Outfitters, Inc. URBN, but lowered the price target from $45.00 to $40.00.
In the report, Jefferies noted, “The URBN story going forward clearly hinges upon sustained progress at the core Urban brand. Admittedly, that scenario is getting pushed further out, but we continue believe a turnaround here should spark a margin and sales recovery. At this more compressed valuation, downside expectations appear priced into the stock, creating greater potential upside opportunity once the Urban division stabilizes. Reiterate Buy, PT to $40.”
Urban Outfitters closed on Monday at $30.83.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in