Stifel Values Uniqueness Of Urban Outfitters Brand
On Tuesday, Stifel raised the target price of Urban Outfitters Inc. (NASDAQ: URBN) from $38.00 to $42.00 after the company released fourth quarter sales that exceeded expectations. Stifel also reiterated Urban Outfitters as a Buy.
Analysts Richard Jeffe, Megan Roesch and Samantha Swerdlin wrote, "We remain convinced of the uniqueness and appeal of the Urban Outfitters division and the likelihood of continued improved performance. The ongoing strength of the Anthropologie and Free People brands supports our positive conviction regarding URBN shares."
Urban Outfitters said that its quarterly sales jumped 12 percent year-over-year to $1.01 billion, staying ahead of analysts' estimate of $988.1 million. The apparel retailer said that its promotional activity during the holiday season was higher-than-expected. Also same store sales increased 6 percent in January, again above expectations.
Urban outfitters is closed Monday at $38.90.
Latest Ratings for URBN
|Mar 2017||KeyBanc||Upgrades||Sector Weight||Overweight|
|Mar 2017||William Blair||Downgrades||Outperform||Market Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.