Morgan Stanley Sees Encouraging Signs For Urban Outfitters

In a report published Monday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating and $44.00 price target on Urban Outfitters (NASDAQ: URBN).

In the report, Morgan Stanley noted, “We are encouraged by early signs of UO assortment adjustments and expect 2H14 upside. eComm investments and design-team process improvements position URBN well L-T. We expect opportunistic buybacks and at 15.5x ex-cash FY15 EPS, valuation is compelling. Reiterate O/W.”

Urban Outfitters closed on Friday at $36.32.