Markets & Finance

UBS Financial Ups Urban Outfitters to 'Buy'


UBS Financial upgraded Urban Outfitters (URBN

) to buy from neutral.

Analyst Richard Jaffe says his upgrade is based on better same store sales than he previously expected, and a refreshed outlook on valuation. He says Urban Outfitters is the most visible, compelling growth story in his universe. He thinks the retailer continues to warrant a premium to the market and specialty retail group, with room for appreciation.

Jaffe raised the 98 cents 2003 earnings per share estimate to $1.04, and upped the $1.18 2004 estimate to $1.25. He says the most potent risk at Urban Outfitter is its fashion business. He raised the $25 target to $38 as growth, and a significant rate of return, offsets the risks to the fashion business.


Later, Baby
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus