Nomura Securities Maintains a 'Neutral' on Urban Outfitters (URBN); Adjusting Estimates After 10-K Release

Nomura Securities maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $28.00.

Analyst Paul Lejuez, said, "URBN’s 10-K indicated that QTD comps are up low-single digits, but we believe that this was helped by ~200bps from having an extra Saturday this year in March compared to LY. Based on a higher comp forecast at Urban Outfitters, we are increasing our F12E EPS from $1.36 to $1.43 vs. Street at $1.47. We model comps +3- 5% at Urban and (1)-(3)% at Anthro. While results in March improved, in the context of how we believe the rest of the sector performed in the month, URBN (primarily Anthro) remains a laggard. We do not see a positive catalyst for the stock in the near term, especially as the company kicks up its SG&A spend."

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 $30.22 yesterday.

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