Wedbush Upgrades Urban Outfitters, Inc. (URBN) to Neutral; Current Valuation May Provide Entry Point
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Price: $77.81 --0%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 17
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Wedbush upgraded Urban Outfitters, Inc. (NASDAQ: URBN) from Underperform to Neutral, price target raised from $22 to $25.
Wedbush analyst said, "We are upgrading shares of URBN as we note the recent sell-off has put the stock within 10% of our previous price target of $22 and as we believe the current share price has priced in more realistic turnaround assumptions. Although we believe URBN continues to struggle with fashion mishaps and elevated inventory levels, checks by our Retail Specialists suggests the aggressive promotions in Nov/Dec have cleared through a substantial amount of markdown goods and reads of the early Spring transitional lines have shown some signs of improvement. Furthermore, the return of co-founder Richard Hayne as CEO (current
Chairman of the Board and President) may provide a positive catalyst as his demonstrated experience and influence may be able to accelerate the much anticipated turnaround."
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 $23.93 yesterday.
Wedbush analyst said, "We are upgrading shares of URBN as we note the recent sell-off has put the stock within 10% of our previous price target of $22 and as we believe the current share price has priced in more realistic turnaround assumptions. Although we believe URBN continues to struggle with fashion mishaps and elevated inventory levels, checks by our Retail Specialists suggests the aggressive promotions in Nov/Dec have cleared through a substantial amount of markdown goods and reads of the early Spring transitional lines have shown some signs of improvement. Furthermore, the return of co-founder Richard Hayne as CEO (current
Chairman of the Board and President) may provide a positive catalyst as his demonstrated experience and influence may be able to accelerate the much anticipated turnaround."
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 $23.93 yesterday.
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