Urban Outfitters price target raised to $65 from $60 at Wells Fargo

Wells Fargo raised the firm’s price target on Urban Outfitters (URBN) to $65 from $60 and keeps an Equal Weight rating on the shares. Despite the weakening end-market, Urban Outfitters’ results continue to impress, highlighted by Q1’s strong comp and gross margin outlook, the firm says. That along with stable growth at Anthro/FP/Nuuly keeps the story going, Wells adds.