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Urban Outfitters (URBN) Shares Ready to Break Out -Morgan Stanley

July 17, 2012 12:38 PM EDT Send to a Friend
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Price: $36.14 -1.53%

Rating Summary:
    19 Buy, 15 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 6
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Traders are bidding up shares of Urban Outfitters (Nasdaq: URBN) Tuesday afternoon following the addition of the stock to Morgan Stanley's "Best Ideas" list earlier.

The firm believes the recently-rangebound stock is ready to break out as the company has shaken-up management and "decisively" cleared excess product. Earnings could double over the next three years, according to Morgan Stanley.

The firm boosted its price target on Urban Outfitters shares from $31 to $36. An Overweight rating is maintained.

With shares up 3.2 percent to $30.42 at last check, Morgan Stanley's new price target implies potential upside of about 18 percent.

Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Urban Outfitters.

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