BMO Capital analyst Daniel Stroller raised the firm’s price target on Urban Outfitters (URBN) to $76 from $58 and keeps a Market Perform rating on the shares. The company’s Q1 results saw a broad-based beat, encouragingly including a Urban Outfitters comp inflection, the analyst tells investors in a research note. Gross margins were very strong, and the management guided Q2 margins up 50-100bps, which are expected to “prove conservative”, BMO added.
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Read More on URBN:
- Urban Outfitters price target raised to $75 from $62 at Baird
- Urban Outfitters price target raised to $77 from $62 at Morgan Stanley
- Urban Outfitters price target raised to $70 from $55 at Wells Fargo
- Urban Outfitters price target raised to $80 from $70 at BofA
- Urban Outfitters’ Strong Performance Driven by European Growth and Brand Success
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