Why Urban Outfitters Stock Rose Today
Shares of Urban Outfitters (NASDAQ: URBN) were climbing after the apparel and lifestyle company got an upgrade from Wells Fargo. The stock was up 5.2% as of 10:58 a.m. EDT.
The parent of brands including Anthropologie and Free People saw its rating go from market perform to outperform at Wells Fargo. Analyst Ike Bourchow also lifted his price target from $25 to $30, citing strong performance from the company's fall merchandise assortment and increasing comparable sales, adding that recent turnaround efforts were beginning to bear fruit.
Image source: Urban Outfitters.
Source Fool.com
