Ascendiant Capital Initiates Coverage on Urban Outfitters, Stating Best-of-Breed Brand

Ascendiant Capital analyst Elizabeth Pierce published a report on Urban Outfitters

that initiated coverage with a Buy rating and set a price target of $47. In the report Ascendiant Captial said, "Although the retail landscape remains competitive, in our opinion, given URBN's unique products, the experiential nature of the shopping excursion and its global appeal, we believe URBN could double its store base from current levels. We believe URBN's DTC business, which was ~24% of total sales in FY2013, also has meaningful growth potential driven by increasing web exclusive (Web-Ex) product, broadening the online offering, reaching new customers via new technologiesand by entering new countries." On Wednesday Urban Outfitters closed at $41.51.