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Fly News Breaks for November 17, 2015
URBN
Nov 17, 2015 | 06:12 EDT
RBC Capital downgraded Urban Outfitters to Sector Perform and lowered its price target to $23 form $32 o shares. Analyst Brian Tunick reported an inline but lower quality Q3 with SG&A and buybacks offsetting top line and gross margin misses. Tunick quarter-to-date trends in all three brands are worsening and secular and cyclical headwinds are contributing to lack of top line and bottom line visibility.
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