Urban Outfitters (URBN) Estimates Trimmed at Jefferies Post Q2; Buy, $50 PT Maintained
Jefferies analyst Randal Konik reiterated a Buy rating and $50 price target on Urban Outfitters, Inc. (NASDAQ: URBN) following Q2 results although he lowered forward EPS estimates.
Konik commented, "URBN posted 2Q EPS results a penny above expectations, again driven by strong sales in the Anthropologie and Free People brands. Progress at the namesake Urban Outfitters division continues to be a focal point here and we remain optimistic on its turnaround potential, which will be an important determinant of the stock's direction over the next couple months."
The firm cut Q3 EPS from $0.56 to $0.54 and FY 2015 EPS from $2.05 to $2.00.
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Shares of Urban Outfitters, Inc. closed at $36.92 yesterday.