Urban Outfitters Gains as Citi Says It’s too Cheap to Ignore By Investing.com
Investing.com – Urban Outfitters stock (NASDAQ:) rose more than 2.5% higher Friday as Citi C upgraded the retailer to a buy with a target of $40, lower than the previous target of $44.
The new price still carries an upside potential of around 28% from the stock’s current level of $31.34.
Analyst Paul Lajuez said the target was being lowered only to reflect more conservative estimates, but the risk-reward the stock still holds couldn’t be ignored.
While supply chain concerns are warranted, sales downside is limited, and margins should remain strong, Lajuez said.
The analyst said the market already discounts an EPS number closer to Citi’s.
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