Deutsche Bank keeps Hold rating on Urban Outfitters, raises price target to $27

Deutsche Bank analyst Gabriella Carbone raised the firm’s price target on Urban Outfitters to $27 from $25 and keeps a Hold rating on the shares. The firm notes the company’s Q4 print was slightly below expectations with EBIT of $43M versus consensus at $48M, driven mainly by higher-than-expected expenses. Moving ahead, management highlighted improvements in the supply chain and the ability to chase, but still expect trends to remain tough in Q1 with opportunity for improvement in Q2 and beyond, Deutsche Bank says.