Janney Montgomery Scott Maintains a 'Neutral' on Urban Outfitters (URBN); Earnings Beat, Offset by 3Q11 Gross Margin

Janney Montgomery Scott maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target raised by $1 to $28.

JMS analyst says, "Slightly raising our below-consensus EPS due to 2Q11 upside and share repurchase activity; slightly raising fair value. Our FY11 estimate goes to $1.44 from $1.42 (versus the consensus of $1.52) and FY12 goes to $1.74 from $1.69 (the Street is at $1.90). Our new estimates include more aggressive share repurchase activity than previously estimated. Our 12-month fair value goes to $28 from $27, which is based on 16.0x (16% three-year EPS growth rate) our FY12 EPS of $1.74."

For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $29.69 yesterday.

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