Urban Outfitters Downgraded - Analyst Cautions Against Visibility Challenges
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group downgraded Urban Outfitters (NASDAQ:URBN) from Outperform to Market Perform, citing visibility challenges and slowing retail sales trends. Despite a Q2 earnings beat, the price target was lowered from $49 to $44. URBN shares fell 8.18% to $38.09.
August 22, 2024 | 5:09 pm
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NEGATIVE IMPACT
Urban Outfitters was downgraded by Telsey Advisory Group from Outperform to Market Perform due to visibility challenges and slowing sales trends. The price target was reduced from $49 to $44, and shares dropped 8.18% to $38.09.
The downgrade from Outperform to Market Perform and the reduction in price target from $49 to $44 indicate a negative outlook. The analyst cited visibility challenges and slowing sales trends, which are significant concerns for investors. The immediate market reaction was a drop in share price by 8.18%, reflecting the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100