BMO Capital Reiterates Market Perform Rating on Urban Outfitters, Inc. (URBN)

BMO Capital analyst Simeon Siegel reiterated a Market Perform rating and $42.00 price target on Urban Outfitters, Inc. (NASDAQ: URBN).

The analyst commented, "URBN's top-line beat (driven by Anthropologie/Free People) and better GM drove 1Q's EPS beat. While Gross Margin came nicely ahead (of both Street/guidance) due to higher IMU (at all brands), partially offset by higher markdowns (mostly at UO) and Nuuly-driven logistics deleverage, management guided 2Q GM below. While UO continues to underperform, management is targeting sequentially improving performance through the year, with initiatives in place (better speed-to-market capabilities, skewing to opening- price points in women's accessories and home, altering the marketing strategy)."

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 $41.32 yesterday.

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