Janney Montgomery Scott maintains a 'Buy' on Urban Outfitters (URBN); Breaking Down to 10-Q
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Price: $77.81 +2.11%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott maintains a 'Buy' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $42.00.
Analyst, Adrienne Tennant, said, "We believe that quarter-to-date, the DTC business has accelerated even more since the second quarter, as the company is committed to driving sales through this higher-profit channel. As a result, while the spread from segment to store-only comps was approximately 500 basis points in 2Q12, we believe it is close to 600 to 650 basis points thus far in 3Q12. This would imply that comparable store sales (excluding direct-to-consumer, "DTC") quarter-to-date likely remain in the slightly negative range. We believe quarter-to-date comp trends by division could be directionally similar to those reported in 2Q12."
"We continue to remain confident in URBN as a back half 2012 turnaround story, driven by reduced markdown activity and improved product at both core divisions. We continue to believe that the Anthropologie product turn will be weighted towards the latter part of fall and holiday seasons. While we look for a better entry point to continue to build a position in URBN, we believe the story is setting up nicely and remain optimistic about the turn in 2H12."
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 $39.48 yesterday.
Analyst, Adrienne Tennant, said, "We believe that quarter-to-date, the DTC business has accelerated even more since the second quarter, as the company is committed to driving sales through this higher-profit channel. As a result, while the spread from segment to store-only comps was approximately 500 basis points in 2Q12, we believe it is close to 600 to 650 basis points thus far in 3Q12. This would imply that comparable store sales (excluding direct-to-consumer, "DTC") quarter-to-date likely remain in the slightly negative range. We believe quarter-to-date comp trends by division could be directionally similar to those reported in 2Q12."
"We continue to remain confident in URBN as a back half 2012 turnaround story, driven by reduced markdown activity and improved product at both core divisions. We continue to believe that the Anthropologie product turn will be weighted towards the latter part of fall and holiday seasons. While we look for a better entry point to continue to build a position in URBN, we believe the story is setting up nicely and remain optimistic about the turn in 2H12."
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 $39.48 yesterday.
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