Wunderlich Securities Sees Urban Outfitters As On the Road To A Better 2H

In a report published Tuesday, Wunderlich Securities analyst Eric Beder reiterated a Buy rating and $42.00 price target on

. In the report, Wunderlich Securities noted, “We are reiterating our Buy rating, estimates and price target of $42 after Urban Outfitters (URBN) reported 2Q results that were a penny above the Street. As expected, the Urban Outfitters chain remained a drag due an under-performing assortment. However, initial results for back-to-school have been encouraging,leading management to begin to ‘chase' goods. While Urban was weak, Free People and Anthropologie excelled, with Free People reporting the best comp increase (+21%) in its history. With continued organic growth, great online capabilities, planned assortment changes and expansion, Urban Outfitters may be turning the tide as the company gears up for a better 2H of FY2015; we remain buyers of URBN.” Urban Outfitters closed on Monday at $36.92.