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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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
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