Mizuho Securities Raises Price Target on Urban Outfitters (URBN) Following a 4Q EPS Beat
Mizuho Securities reiterated a Neutral rating on Urban Outfitters, Inc. (NASDAQ: URBN), and raised the price target to $30.00 (from $20.00), following the company's 4Q. URBN reported EPS of $0.61 vs. $0.60 LY was above consensus’ $0.56 estimate.
Analyst Betty Chen commented, "We are raising our estimates and PT to $30 (from $20 prior) on better-thanfeared 4Q results and an encouraging start to 1Q with signs of ongoing margin opportunity at UO. That said, compares remain tough in 1H16 with negative store traffic and we expect margin gains at UO may diminish in 2H against tougher compares, making recovery at Anthropologie and FP more critical. With shares trading at ~15x FY16 EPS estimates, we view shares as fairly valued."
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Shares of Urban Outfitters, Inc. closed at $28.16 yesterday.