Mizuho Securities Raises Price Target on Urban Outfitters (URBN) to $32 Following 2Q Beat

August 17, 2016 6:55 AM EDT
Get Alerts URBN Hot Sheet
Price: $26.26 +0.27%

Rating Summary:
    14 Buy, 30 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities reiterated a Neutral rating on Urban Outfitters, Inc. (NASDAQ: URBN), and raised the price target to $32.00 (from $28.00), following the company's 2Q earnings report. URBN reported EPS of $0.66, above consensus’ $0.55 estimates. Notes suggest September was best LY, followed by August and then October.

Analyst Betty Chen commented, "We are raising our estimates and PT to $32 to reflect a 2Q beat and lean units that should aid 2H margin. Although we expect UO to accelerate in 3Q, Anthro and FP may see flattish to decelerating comps as they continue to refine apparel (emerging categories trending well). The most interesting takeaway was CEO Hayne’s belief of another major silhouette change that could lead shoppers to update wardrobes. With shares trading higher on ~10% short interest and mixed sales outlook, we view shares as fairly valued at ~14-15x P/E and remain Neutral."

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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