J.P. Morgan Maintains Overweight on Urban Outfitters (URBN)

J.P. Morgan is out with its report today on Urban Outfitters URBN, maintaining Overweight. In a note to clients, J.P. Morgan writes, "With differentiated concepts in an eclectic store environment, we continue to view URBN as a best-in-class retailer with a rare opportunity to more than double the store footprint over the next 5-10 years from 372 stores (12%-14% sq ft growth annually)." J.P. Morgan has a $36 PT on URBN. Shares of URBN closed Thursday at $31, down 0.90% from Wednesday's close.