Urban Outfitters price target lowered to $59 from $68 at Barclays

Barclays lowered the firm’s price target on Urban Outfitters (URBN) to $59 from $68 and keeps an Overweight rating on the shares. The firm’s Q1 promotion tracker for retailers shows sector-wide “flat” promos year-over-year. However, earnings risk in the second of the year is building as inventory dollars are growing, demand risk is rising, and price increases and margin pressure begin in June and July, the analyst tells investors in a research note.