Wall Street Strategies Reiterates Urban Outfitters Sell, Lowers PT (URBN)

Wall Street Strategies reiterated its Urban Outfitters URBN Sell rating and lowered Urban Outfitters' price target from $28 to $26 in a research report published today. In the report, Wall Street Strategies states, "The fashion cycle has not yet swung back in the favor of Urban Outfitters (URBN) as was abundantly apparent in the above statement from the 10-K. Two months into the quarter and with less wintry weather conditions, the customer's adoption of new leading fashion as interpreted by Urban Outfitters continues to be muted. The most difficult comp comparisons of the FY for the Urban Outfitters and Anthropologie brands do not help management's case in trying to show the Street a stabilizing fundamental performance." Shares of Urban Outfitters were trading at $30.15 at the time of posting, up 1.07% from Thursday's market close.