As previously reported, UBS analyst Jay Sole downgraded Urban Outfitters to Sell from Neutral with a price target of $19, down from $23. The firm has become "increasingly bearish" on softlines stocks and reduced its calendar 2023 EPS estimates across its coverage by 10%, on average. Its 2023 EPS estimates are now 13% below consensus for the average stock in its coverage in the space, the firm noted.
Published first on TheFly
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Read More on URBN:
- Urban Outfitters downgraded to Sell from Neutral at UBS
- Urban Outfitters COO Conforti sells 42,000 common shares
- Urban Outfitters price target raised to $29 from $27 at Barclays
- Deutsche Bank keeps Hold rating on Urban Outfitters, raises price target to $27
- Urban Outfitters says Q1 revenue growth could be ‘similar to Q4’
