Urban Outfitters (URBN): Anthropologie Finding Its Way - Jefferies
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Jefferies analyst, Randal Konik, reiterated his Buy rating on shares of Urban Outfitters, Inc. (NASDAQ: URBN) after the 3Q miss was largely driven by weakness in apparel at Anthropologie. He remains encouraged by the momentum at UO, bucking the industry trend, with higher store traffic.
The analyst sees Anthro finding its way over the next several quarters as the customer adopts to the fashion shift (with mgmt already pointing to a slight QTD acceleration in comps) and views URBN as a key beneficiary of a stronger fashion cycle.
No change to the price target of $45.
Shares of Urban Outfitters, Inc. closed at $39.01 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesJefferies & Co, Randal Konik
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