Jefferies Maintains Neutral Following Urban Outfitters (URBN) Q1

Jefferies maintains a Hold rating on Urban Outfitters, Inc. (NASDAQ: URBN), and lowered the price target to $36.00 (from $38.00), following the 1Q results. Analyst Randal J. Konik said that Urban division continues to improve, while Anthropologie becomes a concern.

Konik commented on URBN, saying, "The long awaited positive inflection at Urban Outfitters' namesake brand looks to be gaining traction, with another quarter of solid retail comps. However, a deceleration at Anthro now portends a reversal of fortunes for these two key brands. For the stock to work, we believe the divisions need to work in harmony. That, coupled with greater-than-expected margin pressure prevents us from becoming more positive at this stage. Maintain Hold, PT to $36."

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $40.72 yesterday.

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