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Fly News Breaks for April 3, 2018
URBN
Apr 3, 2018 | 09:15 EDT
SunTrust analyst Pamela Quintiliano kept her Buy rating and $42 price target on Urban Outfitters but raised her Q1 EPS target to 29c from 26c after yesterday's update by the company on its quarter-to-date comps. The analyst states that Q1 is "shaping up very well", with earlier Easter pulling forward some of the demand to produce a low-double-digit comp trend. Quintiliano further contends that even if the positive trends moderate in April and Q1 comps come in at high-single-digits, it will still mark an upgrade from Q4 on a 2-year stack basis, adding that the last time Urban Outfitters grew its comps at that rate was in FY14.
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