UBS analyst Jay Sole raised the firm’s price target on Urban Outfitters (URBN) to $54 from $45 and keeps a Neutral rating on the shares. The firm’s checks suggest Urban Outfitters’ Q1 and Q2-to-date sales trends were solid, the analyst tells investors in a research note. UBS doesn’t expect the Q1 report to lead significant revisions of Street’s estimates or move the stock’s multiple much and sees a balanced upside/downside skew.
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