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Fly News Breaks for November 17, 2015
URBN
Nov 17, 2015 | 06:26 EDT
Telsey Advisory downgraded Urban Outfitters to Market Perform and lowered its price target to $23 from $40 on shares. Analyst Dana Telsey lowered estimates following the Q3 report and said the lack of product newness in core apparel and accessories had not impacted all of the businesses, with deceleration across brands. Telsey believes Urban's ability to post an increase in sales trends is further on the horizon and earnings visibility is further clouded.
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