Janney Capital Confident in Urban Outfitters (URBN) Q4 Turn

Janney Capital reiterated a Buy on Urban Outfitters, Inc. (NASDAQ: URBN) and maintained a price target of $42.00 following the company's Q3 earnings report.

Analyst Adrienne Tennant said "We continue to believe that the Urban Outfitters division is capitalizing on many of the key fashion trends that are happening now, and we note that the stores look increasingly fashion forward and believe the Urban Outfitters division continues to improve store level traction with customers."

Tennant feels the turn in business is on track as URBN focuses on inventory discipline and improved merchandising.

"We reiterate our BUY rating and recommend accumulation of URBN shares on weakness, as we believe the story is setting up nicely and remain confident in the turn in 4Q12," concluded Tennant.

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 $37.07 yesterday.

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