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Fly News Breaks for April 23, 2019
URBN
Apr 23, 2019 | 07:34 EDT
Wedbush analyst Jen Redding lowered her price target for Urban Outfitters to $28 from $35 as mid-April data nose dives while uptick in insider selling drives visibility lower, as investors focus on read through for Q2. Average Basket Value in her Transaction Data inflected sharply negative this week and last week relative to quarter-to-date trends, which seemingly reflects revenue deterioration at core Urban Outfitters, she contends. The analyst reiterates a Neutral rating on the shares.
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