Nomura Securities Raises Price Target on Urban Outfitters (URBN) to $33

August 17, 2016 10:15 AM EDT
Get Alerts URBN Hot Sheet
Price: $33.74 +0.48%

Rating Summary:
    15 Buy, 29 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 1 | New: 2
Trade URBN Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Nomura Securities reiterated a Neutral rating on Urban Outfitters, Inc. (NASDAQ: URBN), and raised the price target to $33.00 (from $30.00), following the company's 2Q earnings report.

Nomura commented, "With brands & department stores across the channel talking about normalizing their inventory and distribution, URBN's comp and margin beat were notably impressive, with UO and Anthro operating at near peak merchandise margins. At this point (and at 14x FY17 EPS), we await visibility on the ability to grow beyond peak merch margins, however, with momentum on their side and ongoing bottom line growth, we would not be surprised to see investors push shares higher in the NT. Mgmt noted the 2Q quarter started off weak and progressively improved, with July stronger than June, which was stronger than May (they called out some pent-up weather-driven demand due to the weaker May). On current trends, mgmt noted that although trends are ~1-1.5 point lighter than 2Q comp trends, normalizing for calendar compares (it has had 1 less weekend than LY), Aug is generally consistent with 2Q. On a related note, we'd expect a similar dynamic when the company files its 10Q with QTD comps."

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Nomura, Earnings

Add Your Comment