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Urban Outfitters (URBN) Stock Price Target Cut at JPMorgan

NEW YORK (TheStreet) -- Before Monday's market open, Urban Outfitters (URBN - Get Report) price target was lowered to $30 from $31 at JPMorgan, which maintained a "neutral" rating on the retailer.

"[W]e are concerned that near-term trends will continue to slow at the Anthropologie brand (~40% of sales), which will limit URBN's ability to drive merchandise margin expansion at the corporate level, despite improvements at the Urban Outfitter's brand," JPMorgan analysts wrote in a note released this morning.

For the latest quarter, comparable store sales at Urban Outfitters are expected to be up 2%, offsetting a 1% decline at Anthropology and a 3% drop at Free...


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