Cowen Raises Price Target on Urban Outfitters (URBN) Following 2Q EPS Beat
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co, Earnings
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