Oppenheimer Maintains Outperform on Urban Outfitters (URBN)

Oppenheimer is out with its report today on Urban Outfitters URBN, reiterating Outperform.

In a note to clients, Oppenheimer writes, "We're encouraged that following a difficult January, trends have begun to improve domestically. While we expect near-term pressure as URBN clears through excess inventories and
navigates the fashion shift, these should largely be resolved for back-to-school. We reiterate our $41 PT and take weakness as a buying opportunity."

At the time of posting, shares of URBN were trading at $33.26, down 12.45% from Monday's close.