Deutsche Bank Maintains Buy on Urban Outfitters

Deutsche Bank is out with its report today on Urban Outfitters URBN, maintaining Buy. In its report, Deutsche Bank writes, "2Q EPS came in at $0.35, vs DB's $0.29 and the Street's $0.32 ests. Overage came on the comp, GM, and SG&A lines, each of which saw better y/y trends than in 1Q. However, a decent qtr. ‘relative to expectations' is overlooked by 2H concerns (noted below). On only modest changes to our FY11 ests., we maintain our BUY/$33 PT. Key risks: product improvement & managing global growth." At the time of posting, shares of URBN were trading pre-market at $27.50, down 7.38% from Monday's close.