Urban Outfitters' (URBN) to-Date Q2 Sales Commentary Inline with Views; Stifel Affirms at 'Buy'

Stifel affirms Urban Outfitters (Nasdaq: URBN) with a Buy rating at $50 price target following release of the retailer's 10-Q on Tuesday night. In part, the filing had to-date commentary on Q2 sales.

URBN said: Thus far during the second quarter of fiscal 2016, comparable Retail segment net sales are mid single-digit positive.

Stifel analyst Richard Jaffe noted that commentary is in-line with the Street consensus calling for comps to rise 4.4 percent in the quarter.

Jaffe continued, The stock has sold off since mid-May as investors fear that the weakness at Anthropologie will be prolonged. However, we believe Anthropologie’s issues are relatively easy to remedy given that the merchandise weakness is primarily focused on one product category, dresses, and expect results to improve in late 2Q. We view the recent sell-off as a buying opportunity and reiterate our Buy rating.

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

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