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Urban Outfitters (URBN) Gets a Hold Rating from Wells Fargo

In a report issued on February 1, Ike Boruchow from Wells Fargo maintained a Hold rating on Urban Outfitters (URBNResearch Report), with a price target of $34.00. The company’s shares closed last Monday at $29.33.

According to TipRanks.com, Boruchow is a 3-star analyst with an average return of 2.8% and a 45.5% success rate. Boruchow covers the Consumer Goods sector, focusing on stocks such as aka Brands Holding Corp, Canada Goose Holdings, and Lululemon Athletica.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Urban Outfitters with a $37.64 average price target, representing a 30.7% upside. In a report released yesterday, BMO Capital also maintained a Hold rating on the stock with a $29.00 price target.

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Based on Urban Outfitters’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.13 billion and net profit of $88.86 million. In comparison, last year the company earned revenue of $970 million and had a net profit of $76.7 million.

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Urban Outfitters, Inc. engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. It operates through the Retail, and Wholesale segments. The Retail segment contains the Anthropologie, Bhldn, Free People, Terrain, and Urban Outfitters brands; and its Food and Beverage division. The Wholesale segment designs, develops, and markets apparel, intimates, active wear, and home goods under the Free People, Anthropologie, and Urban Outfitters brands. The company was founded by Richard A. Hayne and Scott A. Belair in 1970 and is headquartered at Philadelphia, PA.

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