Analyst: Slowing Foot Traffic Could Pressure Retail Stock
URBNUrban Outfitters(URBN) Schaeffers Research·2024-04-17 22:16

Urban Outfitters, Inc. (NASDAQ:URBN) stock is 2.9% lower to trade at 36.94thismorning,followingabearnotefromJefferies.Theanalystdowngradedtheapparelretailerto"underperform"from"hold,"whileloweringitspricetargetby36.94 this morning, following a bear note from Jefferies. The analyst downgraded the apparel retailer to "underperform" from "hold," while lowering its price target by 10 to $32, citing slowing foot traffic at the company's branded stores. URBN is trading at its lowest level since Jan. 8, but the shares' 200-day moving average is keeping today's pullback in check. Over the last month, Urban Outfitters has shed nearly 15%, and is close to ...