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Fly News Breaks for November 20, 2018
URBN
Nov 20, 2018 | 06:54 EDT
Deutsche Bank analyst Tiffany Kanaga lowered her price target for Urban Outfitters to $35 saying that while the Q3 earnings report was "commendable," a "complicated conference call has dampened enthusiasm for sustained momentum." The analyst points to stable but not accelerating two-year stack comp momentum planned for Q4 and SG&A up 6% on an implied adjusted basis. She expects multiple contraction in the shares "with an extremely challenging 2019 setup." Kanaga reiterates a Sell rating on Urban Outfitters.
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