BMO Capital Markets cut shares of Urban Outfitters (NASDAQ: URBN) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning. The firm currently has $45.00 price target on the stock.
“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.,” the firm’s analyst wrote.
Urban Outfitters opened at 41.29 on Friday. Urban Outfitters has a 52-week low of $25.43 and a 52-week high of $44.15. The stock’s 50-day moving average is currently $42.. The company has a market cap of $6.025 billion and a price-to-earnings ratio of 30.84.
Several other analysts have also recently commented on the stock. Analysts at Wedbush raised their price target on shares of Urban Outfitters from $39.00 to $42.00 in a research note to investors on Monday, February 11th. They now have a neutral rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Urban Outfitters in a research note to investors on Tuesday, January 22nd. They now have a $46.00 price target on the stock. Finally, analysts at Atlantic Securities downgraded shares of Urban Outfitters from an overweight rating to a neutral rating in a research note to investors on Monday, January 21st. They now have a $44.00 price target on the stock. They noted that the move was a valuation call.
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