UPDATE: Jefferies Reiterates On Urban Outfitters On 4 Unique Views To Consider

In a report published Tuesday, Jefferies analyst Randal J. Konik reiterated a Buy rating on Urban Outfitters, Inc. (NASDAQ: URBN), but lowered the price target from $45.00 to $40.00.

In the report, Jefferies noted, “The URBN story going forward clearly hinges upon sustained progress at the core Urban brand. Admittedly, that scenario is getting pushed further out, but we continue believe a turnaround here should spark a margin and sales recovery. At this more compressed valuation, downside expectations appear priced into the stock, creating greater potential upside opportunity once the Urban division stabilizes. Reiterate Buy, PT to $40.”

Urban Outfitters closed on Monday at $30.83.