Urban Outfitters upgraded to Neutral from Sell at UBS

UBS upgraded Urban Outfitters to Neutral from Sell with a price target of $41, up from $21. The analyst expects a solid Q4 print from Urban Outfitters, but thinks this is already priced into the shares. The company has had good sales momentum through January, which sets it up for a “nice” Q4 print, the analyst tells investors in a research note. However, UBS doubt the report changes sentiment much, as it thinks most of this good news is probably already reflected in the stock price. Thus, it sees a balanced upside/downside skew around the event.