URBN - Analysts trim targets on Urban Outfitters despite earnings day pop

Urban Outfitters (NASDAQ:URBN) estimates were trimmed by numerous analysts on Wall Street even as the stock accelerated on Wednesday. The trajectory for the stock defied the Philadelphia-based retailer’s downbeat earnings results to drive to a strong gain on Wednesday. At intraday highs, Urban Outfitters (URBN +14.8%) shares soared over 15% higher alongside much of the retail sector. However, analysts advised tempering optimism on the name after sifting through its first quarter report. “Anthropologie and FP remain well positioned in the current environment, helping to offset the impacts of a more inflation-sensitive [Urban Outfitters] consumer,” Baird analyst Mark Altschwager recognized. “However, with margins trending back toward pre-pandemic levels and macro risks rising, we believe valuation expansion may be difficult near term as investors assess the cross currents and appropriate margin expectations.” He maintained a “Neutral” rating on the stock while trimming his price target from $32 to $24. Citi analyst Paul

For further details see:

Analysts trim targets on Urban Outfitters despite earnings day pop