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Fly News Breaks for February 27, 2017
URBN
Feb 27, 2017 | 07:45 EDT
As previously reported, MKM Partners downgraded Urban Outfitters to Sell form Neutral and lowered its price target to $20 from $25. Analyst Roxanne Meyer expects sales and margins to deteriorate meaningfully in 2017 at Anthropologie, and sees risk at Urban Outfitters as it laps reductions in markdowns and as key brands widen distribution. Further, the analyst believes the company is vulnerable to sales and margin risk given her perception of under-investment in omni-channel technology that enables inventory accuracy. Meyer lowered Urban Outfitters' 2017 earnings estimate to $1.78 from $1.94, versus consensus of $2.01, and 2018 earnings estimate to $1.81 from $2.08, versus consensus of $2.15.
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