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Fly News Breaks for November 23, 2016
URBN
Nov 23, 2016 | 07:43 EDT
Baird analyst Mark Altschwager noted Urban Outfitters reported weaker than expected Q3 results as sluggish apparel demand at Anthropologie weighed on consolidated comps and margins. The analyst said the apparel market remains choppy and the margin picture is murkier than anticipated and recommends investors wait for opportunities to build or add to positions in the low $30's and look to trim positions in the high $30's. Altschwager maintained his Outperform rating on Urban Outfitters shares.
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