Urban Outfitters trend focus may not be evident until Fall, says Janney Capital Janney Capital said Urban Outfitters' management thinks the majority of the underperformance at its flagship brand is company specific and they are working to better translate key trends to the floor. Janney believes the full impact of this work will be most evident for back-to-school, but until then the firm would expect to see ongoing negative comps for UO in Q1 with improvement but possibly not yet positive comps in Q2. The firm has a Buy rating and $41 price target on Urban Outfitters.
Urban Outfitters gaps up following upgrade Shares are up over 3% to $36.49 at time of writing following an earlier upgrade at Jefferies to Buy, with a $50 price target. At current price resistance is at $36.93, the top of the recent trading range since mid-May. Support is at $35.82.