Urban Outfitters weakness a buying opportunity, says Canaccord Canaccord believes investors should take advantage of the tepid investor sentiment towards Urban Outfitters which has led to a decline this year. The firm expects its namesake brand to rebound in the second half and same store sales growth to return by Q4. The firm has a Buy rating and $48 price target on the stock.
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.