Market Overview

UPDATE: Wedbush Upgrades Urban Outfitters to Outperform on Multiple Positive Factors

Share:
Related URBN
Why Is Urban Outfitters (URBN) Down 6.9% Since the Last Earnings Report?
Urban Outfitters Plunges 10% on Declining Q2 Comps Trend

In a report published Tuesday, Wedbush analyst Betty Chen upgraded the rating on Urban Outfitters (NASDAQ: URBN) from Neutral to Outperform, and raised the price target from $42.00 to $52.00.

In the report, Wedbush noted, “We are upgrading shares to OUTPERFORM from NEUTRAL given (1) on-trend merchandise, (2) solid inventory control, (3) stellar online/mobile penetration, (4) compelling growth from existing brands and potential acquisitions. Despite a choppy retail landscape, URBN posted sequential comp gains at Anthro and FP, along with lower markdowns and higher full-priced sell-throughs. With trend-right merchandise, we believe management's plans for ‘at least 50 bps in gross margin gain in H2' appears conservative.”

Urban Outfitters closed on Monday at $39.92.

Latest Ratings for URBN

DateFirmActionFromTo
Apr 2017CitigroupDowngradesBuyNeutral
Mar 2017KeyBancUpgradesSector WeightOverweight
Mar 2017William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for URBN
View the Latest Analyst Ratings

Posted-In: Betty Chen WedbushAnalyst Color Upgrades Analyst Ratings

 

Related Articles (URBN)

View Comments and Join the Discussion!