Fly News Breaks for March 4, 2020
Mar 4, 2020 | 08:41 EDT
DA Davidson analyst John Morris lowered the firm's price target on Urban Outfitters to $27 from $36 but keeps a Buy rating on the shares. The analyst notes that while the company saw a "healthy" top-line growth with a 4% comp increase, higher delivery and labor costs drove a Q4 earnings miss. Morris remains positive on the stock given the management's view of cleaner inventory heading into Spring as well as the positive quarter-to-date comps in all three of its divisions.
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