RBC Capital Markets Reiterates Outperform Rating On URBN

RBC Capital Markets reiterated its "outperform" rating" for Urban Outfitters, Inc. (NASDAQ: URBN). Its price target for URBN is $36 as RBC thinks that business is beginning to accelerate and expects the growth to remain intact with sales gains fueled by existing and new concepts.

RBC Capital's current Q4 EPS estimate of $0.37 vs. $0.24 last year, assumes gross margin improves 540 basis points. Last year URBN's gross margin declined 560 basis points.

URBN jumped 1.64% today at $32.80, and had a volume of $5.20M.