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Fly News Breaks for August 16, 2017
URBN
Aug 16, 2017 | 08:26 EDT
Goldman Sachs analyst Lindsay Drucker Mann said Urban Outfitters' Q2 report showed a notable improvement in business relative to its mid-quarter comp update in early June. However, the analyst remains Sell rated given structural pressures impacting Specialty Retailers and said its too early to have conviction for sustained positive momentum. Drucker Mann stills sees risk to the downside and said negative sentiment across the group should keep a cap on multiples. The analyst raised Urban's price target to $18 from $16.
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