Cowen Raises Price Target on Urban Outfitters (URBN) Following 2Q EPS Beat
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Cowen reiterated a Market Perform rating on Urban Outfitters, Inc. (NASDAQ: URBN), and raised the price target to $37.00 (from $28.00), following the company's 2Q earnings report. EPS results came in ahead of the Street at $0.66 vs. Consensus estimates of $0.55.
Analyst Oliver Chen commented, "We like URBN's commitment to non-apparel category expansion (beauty, lingerie, home), focus on high owned-brand penetration, and solid DTC execution (DTC outperformed stores). While improved comp/margin performance at UO is encouraging, we monitor for improvements at Anthro apparel & sustained momentum to return to Free People. New $37 PT (~16-17x 2018E EPS)."
Shares of Urban Outfitters, Inc. closed at $31.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!