Morgan Stanley Reevaluates Retail, Specialty Retailer Stocks: UBRN, CPRI, JWN, And More
Portfolio Pulse from AJ Fabino
Morgan Stanley analyst Alex Straton reevaluated retail stocks, upgrading Urban Outfitters (URBN) to Overweight and raising its price target to $41, while downgrading Capri Holdings (CPRI) to Equal-Weight with a lowered price target of $40. Straton reiterated Underweight ratings for Nordstrom (JWN), Bath & Body Works (BBWI), and Lululemon Athletica (LULU).
June 13, 2023 | 3:08 pm
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POSITIVE IMPACT
Morgan Stanley analyst Alex Straton upgraded Urban Outfitters to Overweight from Equal-Weight and raised the price target to $41.
The upgrade to Overweight and the raised price target for Urban Outfitters indicate a positive outlook for the stock. Straton's bullish stance is based on conservative 2023 earnings forecasts and a low relative valuation compared to peers, which could lead to an upside in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley analyst Alex Straton reiterated an Underweight rating and a $61 price target for shares of Bath & Body Works.
The Underweight rating and the $61 price target for Bath & Body Works indicate a negative outlook for the stock. Straton's bearish stance is based on the achievable 2023 earnings forecasts and the potential for further re-rating, which could lead to a downside in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley analyst Alex Straton downgraded Capri Holdings to Equal-Weight from Overweight and lowered the price target to $40.
The downgrade to Equal-Weight and the lowered price target for Capri Holdings indicate a negative outlook for the stock. Straton's bearish stance is based on the potential for negative EPS revision risk in the near term, which could lead to a downside in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley analyst Alex Straton reiterated an Underweight rating and a $16 price target for shares of Nordstrom.
The Underweight rating and the $16 price target for Nordstrom indicate a negative outlook for the stock. Straton's bearish stance is based on the risk across multiple variables, which could lead to a downside in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley analyst Alex Straton reiterated an Underweight rating and a $424 price target for shares of Lululemon Athletica.
The Underweight rating and the $424 price target for Lululemon Athletica indicate a negative outlook for the stock. Straton's bearish stance is based on the conservative 2023 earnings forecasts and the possibility for further re-rating, which could lead to a downside in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100