Janney Montgomery Scott Maintains a 'Buy' on Urban Outfitters (URBN); Expectations on May, QTD Sales

June 4, 2012 7:46 AM EDT
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Price: $26.61 +2.03%

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    14 Buy, 30 Hold, 0 Sell

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    Up: 18 | Down: 18 | New: 11
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Janney Montgomery Scott maintains a 'Buy' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $36.00.

Analyst, Adrienne Tennant, said, "We believe quarter-to-date comp trends by division could be similar to the comps by division reported in 1Q12; we believe retail segment comps could be in the positive mid-single-digit range for the Urban Outfitters division, negative low-single-digits at Anthropologie, and positive low-single-digit range for FreePeople...We also believe May store-only comp comparisons are roughly 200 basis points easier than the June/July time frame, while we believe retail segment comp comparisons are roughly similar for all three months."

"We continue to believe in URBN’s potential as a back half 2012 story. We continue to expect to see a turn in the business in 2H12 driven by: 1) leadership changes that are likely to positively impact the business in 2H12, 2) a focus on improving inventory discipline, and 3) improved merchandising at both Urban Outfitters and Anthropologie. We continue to believe in the differentiation of URBN’s brands and the loyalty of their customer base...our FY13 EPS estimate goes to $1.82 from $1.80 (versus consensus of $1.81)."

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 $26.69 yesterday.

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