Jefferies Likes Urban Outfitters After Quarterly Results (URBN)

Jefferies & Co. has a Buy rating and a $43 price target on shares of Urban Outfitters URBN after the clothing company reported earnings yesterday after the bell. In the research report Jefferies notes, "URBN remains a l-term winner, but we see some n-term headwinds as the market digests new mgmt, changing disclosure practices, and difficult 4Q'10 sales/margin compares. Thus trading oriented accounts may not see much upside potential over the next 2 qtrs, but l-term accounts should be rewarded over next 12 months." Shares of Urban Outfitters are up $1.85 or 5.9% to $33.21 in early Tuesday trading.