Janney Remains Positive on Urban Outfitters (URBN) Following Comps Beat
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Price: $77.81 +2.11%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
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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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This morning Urban Outfitters, Inc. (NASDAQ: URBN) reported comparable retail segment net sales increased 9 percent over the holiday season. This was higher than consensus estimates.
Commenting on the news, analyst Adrienne Tennant of Janney Capital said, "We had been looking for comp upside to the Street estimate based on strong quarter-to-date channel checks, . . . Still, the strength of the holiday comp was an upside surprise, especially given the more challenging 2H December comp compares, suggesting that all divisions of URBN resonated with their customer base."
"We point out that January comps last year were negatively impacted by lack of inventory, and this year we note we could see modest improvement in total comp due to proper levels of clearance inventory in stores during January," said Tennant.
Tennant remains confident that the turn in the business is on track for 4Q12, and said URBN was still a top pick into 2013.
Janney Capital has a Buy rating on Urban Outfitters, Inc. (NASDAQ: URBN) with a modified price target of $49.00 (from $46).
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 $40.75 yesterday.
Commenting on the news, analyst Adrienne Tennant of Janney Capital said, "We had been looking for comp upside to the Street estimate based on strong quarter-to-date channel checks, . . . Still, the strength of the holiday comp was an upside surprise, especially given the more challenging 2H December comp compares, suggesting that all divisions of URBN resonated with their customer base."
"We point out that January comps last year were negatively impacted by lack of inventory, and this year we note we could see modest improvement in total comp due to proper levels of clearance inventory in stores during January," said Tennant.
Tennant remains confident that the turn in the business is on track for 4Q12, and said URBN was still a top pick into 2013.
Janney Capital has a Buy rating on Urban Outfitters, Inc. (NASDAQ: URBN) with a modified price target of $49.00 (from $46).
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 $40.75 yesterday.
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