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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:03 EDT
BMO Capital analyst Simeon Siegel lowered the firm's price target on Urban Outfitters to $22 from $26 and keeps a Market Perform rating on the shares after its Q4 earnings miss and FY20 outlook in its conference call. The analyst notes that the quarter highlights the company's continued wholesale challenges, elevated inventory, and discounting pressure. Siegel further cites the management's expectation of whole weakness to persist, even though Urban Outfitters sees a "healthy" start this quarter in the retail segment.
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