Urban Outfitters, Inc. (URBN) PT Raised to $40 at Jefferies as Comps Turn Positive in Jan
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Jefferies analyst Janine Stichter raised the price target on Urban Outfitters, Inc. (NASDAQ: URBN) to $40.00 (from $36.00) as 1Q appears to be pointing to positive comps after a challenged Q4. Sales in 4Q were disappointing, as pre-announced, but January improved vs. Nov/Dec and February further improved, with MSD% retail segment comps in N. America and all brands positive.
The analyst reiterated the Buy rating, stating "We like URBN's LT positioning (not over-stored, strong brands, done the heavy lifting on DTC). Near term, we see their digital capabilities as a key asset as retailers navigate a gradual rebuild in stores during COVID-19."
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