Cowen Raises Price Target on Urban Outfitters (URBN) Following 2Q EPS Beat

August 17, 2016 8:13 AM EDT
Get Alerts URBN Hot Sheet
Price: $26.19 -2.93%

Rating Summary:
    14 Buy, 30 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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)."

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $31.24 yesterday.

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