Oppenheimer Reiterates an 'Outperform' on Urban Outfitters, Inc. (URBN); Turnaround in Full Swing; Top Pick
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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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Oppenheimer reiterates an 'Outperform' on Urban Outfitters, Inc. (NASDAQ: URBN) price target of $45.00 (from $38.00).
Analyst, Pamela Quintiliano, said, "After the close Monday (9/10), URBN released its 2Q Form 10-Q. As is URBN's practice, the filing provided a QTD retail comp update (including DTC, or direct to consumer). Comps are trending mid-single-digit positive vs. negative low-single-digits last year QTD and (3.0)% for 3Q. We view these results favorably and believe that the Urban division continues to significantly outpace Anthropologie, although both are improving with Anthropologie potentially ahead of Street expectations. We believe this represents further evidence that merchandising and inventory controls are continuing to gain momentum. URBN remains a top pick despite recent run-up. We expect momentum to continue as in early stages of turnaround with significant go-forward opportunity. The next major catalyst is the
9/27 analyst day."
FY13 EPS estimate raised from $1.58 to $1.59 and FY14 from $1.90 to $1.95.
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, Pamela Quintiliano, said, "After the close Monday (9/10), URBN released its 2Q Form 10-Q. As is URBN's practice, the filing provided a QTD retail comp update (including DTC, or direct to consumer). Comps are trending mid-single-digit positive vs. negative low-single-digits last year QTD and (3.0)% for 3Q. We view these results favorably and believe that the Urban division continues to significantly outpace Anthropologie, although both are improving with Anthropologie potentially ahead of Street expectations. We believe this represents further evidence that merchandising and inventory controls are continuing to gain momentum. URBN remains a top pick despite recent run-up. We expect momentum to continue as in early stages of turnaround with significant go-forward opportunity. The next major catalyst is the
9/27 analyst day."
FY13 EPS estimate raised from $1.58 to $1.59 and FY14 from $1.90 to $1.95.
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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