Urban Outfitters, Inc. (URBN) PT Raised to $46 at Jefferies on HSD Comps and New CEO
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Jefferies analyst Janine Stichter raised the price target on Urban Outfitters, Inc. (NASDAQ: URBN) to $46.00 (from $40.00) after the company announced that Hillary Super, Global CEO of Anthropologie Group, has stepped down and Tricia D. Smith, EVP, Chief Merchandising Officer of TLYS, will take over effective immediately. In conjunction with the announcement, the company also announced that 1Q'22 QTD comps are up HSD% vs. 1Q'20, an improvement from the LSD% Feb trend.
The analyst reiterated a Buy rating, stating "We are encouraged by the momentum at UO/FP, and see positive change ahead for Anthro as vaccines take hold and new leadership has an impact."
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