Analyst Lindsay Drucker Mann of Goldman Sachs downgraded Urban Outfitters, Inc. (NASDAQ:URBN) to Neutral with a price target of $35.00.

The rating came after stock valuation appeared to be full following the 2Q earnings beat. The analyst believes that the company has managed to successfully turn around the UO brand. Drucker Mann stated, “Merch margins are near average levels, with less room for meaningful improvement from here.”

Lindsay Drucker Mann is ranked #1,086 out of 4,122 analysts on TipRanks. She maintains a success rate of 54% and realizes an average return of 3.9%.