Courtesy of Benzinga.
A report from Goldman Sachs reiterates its Neutral rating and $28 price target, and lowers its FY12/13/14 EPS estimates from $1.36/$1.69/$2.09 to $1.32/$1.67/$2.05 on Urban Outfitters (NASDAQ: URBN).
The report states, “URBN continues to work to find its footing in the face of a less supportive trend cycle and product execution challenges that continue to weigh on results. While URBN beat bottom-line EPS ($0.33 vs. $0.32), the mix was weak with gross margin disappointing (-570bp vs. guidance of -450bp) offset by lower share count and tax rate.”
URBN closed yesterday at $26.83.
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