Janney Montgomery Scott Maintains a 'Buy' on Urban Outfitters (URBN); Continue To Believe in 2H Turn in Business

Janney Montgomery Scott maintains a 'Buy' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $36.00.

Analyst, Adrienne Tennant, said, "URBN reported 1Q12 EPS beat of $0.23 versus the Street and our estimate at $0.20. The company also reported 1Q12 comparable retail segment net sales of +2% (including direct-to-consumer) versus Retail Metrics 1Q12 consensus at +0.8%. Comparable store net sales for URBN were down -1% for 1Q12...We e continue to expect to see a turn in the business in 2H12 driven by 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."

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 $26.16 yesterday.

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