Urban Outfitters Gets Price Target Hikes By Analysts Following Strong Q1 Results

Urban Outfitters, Inc. URBN reported better-than-expected results for its first quarter.

Urban Outfitters reported a sales increase of 6% Y/Y to $1.11 billion, beating the analyst consensus of $1.09 billion. EPS of $0.56 beat the consensus of $0.35.

The company also said inventory fell 6.3% year-over-year during the period.

Urban Outfitters shares jumped 13.7% to $30.31 in today’s pre-market trading session.

These analysts made changes to their price targets on Urban Outfitters following earnings announcement.

• Telsey Advisory Group raised the price target on Urban Outfitters from $34 to $35. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Citigroup boosted the price target on Urban Outfitters from $32 to $36. Citigroup analyst Paul Lejuez maintained a Buy rating.
• Wells Fargo raised Urban Outfitters price target from $25 to $30. Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating.

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