J.P. Morgan Comments On Visit to Urban Outfitters Headquarters

According to a recent report, J.P. Morgan made a visit to the headquarters of Urban Outfitters URBN this week to meet with the company's CEO Glen Senk and CFO Eric Artz. Although May sales were weak, J.P. Morgan expects to see gradual improvements from URBN through the remainder of the year. J.P. Morgan maintains an Overweight rating and $36.00 price target on the company. In the report, J.P. Morgan said, "Longer term, URBN is still one of the better stories in retail with opportunity for 20% or better top-line growth at a time when there are limited growth opportunities in retail and most peers are well saturated." Urban Outfitters closed yesterday at $29.28.