UPDATE: Credit Suisse Upgrades Urban Outfitters to Outperform, Raises PT
In a report published Friday, Credit Suisse Group upgrading its rating on Urban Outfitters (NASDAQ: URBN) from Neutral to Outperform, and raised its price target from $42.00 to $48.00.
Credit Suisse noted, “We are adjusting our estimates to reflect revenue drivers and margin expansion opportunities, including: 1) improved merchandising, 2) pricing adjustments, 3) outsized e-commerce growth, 4) better inventory management, 5) a more favorable sourcing environment, and 6) leverage of e-commerce investments. Our FY12 comp, revenue and EPS estimates go to 5.4%, $2,767.7M and $1.60 from 5.1%, $2,760.9M and $1.59. Our FY13 comp, revenue and EPS estimates go to 7.0%, $3,094.1M, and $1.97 from 6.2% $3,063.6M and $1.85. We are raising our FY15 EPS estimates to $2.33 (from $2.22).”
Urban Outfitters closed on Thursday at $40.74.
Latest Ratings for URBN
|May 2015||Piper Jaffray||Downgrades||Overweight||Neutral|
|May 2015||JP Morgan||Downgrades||Overweight||Neutral|
|May 2015||Oppenheimer||Downgrades||Outperform||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.