BMO Capital raised the firm’s price target on Urban Outfitters to $35 from $31 and keeps a Market Perform rating on the shares. The company’s Q2 results saw a “strong” earnings beat with top-line upside and gross margin expansion, the analyst tells investors in a research note. The UO banner continues to underperform, but encouragingly, Men’s and Women’s Apparel business has started Q3 positive, BMO states, adding that the firm commends Urban Outfitters management on the profitability improvement and continuing to “control the controllables”.
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Read More on URBN:
- Urban Outfitters’ (NASDAQ: URBN) Q2 Earnings Smash Estimates with $1.27 Billion in Sales
- Urban Outfitters price target raised to $42 from $35 at BofA
- Urban Outfitters price target raised to $38 from $32 at Baird
- Urban Outfitters price target raised to $47 from $45 at Barclays
- Urban Outfitters reports Q2 comparable Retail segment sales up 4.9%