Janney Montgomery Scott Upgrades Urban Outfitters, Inc. (URBN) to Buy; Second Half Story

Janney Montgomery Scott upgraded Urban Outfitters, Inc. (NASDAQ: URBN) from Neutral to Buy, price target raised from $25 to $31.00.

JMS analyst says, "We are upgrading shares of URBN based on: 1) leadership changes that are likely to positively impact the business in 2H12, 2) a focus on improving inventory discipline, and 3) improved merchandising at both Urban Outfitters and Anthropologie. We continue to believe in the differentiation of URBN's brands and the loyalty of their customer base. We do believe that macro has weighed on the company's performance, but we also believe that a high inventory burden has exacerbated pressure on gross margins throughout 2011."

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 $26.44 yesterday.

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