NEW YORK, NY / ACCESSWIRE / August 17, 2017 / Shares of Urban Outfitters and Target Corporation leaped ahead in Wednesday Trading with Target announcing a promising partnership with Barnes & Noble that could open up a bigger market to college students. Urban Outfitters also saw gains as high as 22% after announcing second quarter results that were better than the Street expected.

RDI Initiates Coverage on:

Urban Outfitters, Inc.
https://ub.rdinvesting.com/news/?ticker=URBN

Target Corporation
https://ub.rdinvesting.com/news/?ticker=TGT

Urban Outfitters, Inc.'s shares were on fire in Wednesday trading, closing the day up 17.48% on over 32 million shares traded. Average trading volume for the stock is a little under 3 million shares usually. The stock even hit a high of $21.31 during intra-day trading after reporting earnings. For the second quarter, the retailer reported a sales decline across all of its namesake as well as Anthropologie brands. Company sales for the period were reported at $872.9 million which was ahead of the $862 million that the FactSet consensus had expected. The number was a decrease from the $890.6 million Urban Outfitters saw in the year ago period. While the market seemed impressed with the beat, GlobalData Retail analyst Anthony Riva wasn't. He wrote, "While Wall Street cheers Urban Outfitters for not doing quite so badly as forecast, the reality is that this is a lousy set of results." Suntrust Robinson Humphrey seemed more optimistic though and stated, "[W]e believe that Urban Outfitters is now on investors' radar given highly encouraging quarter-to-date commentary (an outlier in the current landscape), as well as a plan to continue to turn the business around that, is internally rather than externally driven." SunTrust has a "buy" rating on the stock with a $22 price target.

Access RDI's Urban Outfitters, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=URBN

Target Corporation's shares closed up 3.61% on Wednesday with a little over 22 million shares traded. The stock was one of the most actively traded stocks. The company made a big announcement yesterday that had Wall Street and college kids especially, excited. It seems that Target will be partnering up with Barnes & Noble College Booksellers to promote its college essential products from Target's website. This move, according to executive vice president and chief merchandising officer Mark Tritton, will give access to Target's products to millions of more students. "For those campuses that aren't lucky enough to have one of the new small-format stores, we're partnering with Barnes & Noble College, which operates nearly 800 college stores around the country, to offer the Target assortment to more than 5 million students," Tritton said. It was a good day yesterday considering that on Tuesday, Amazon announced a new service that could affect many retailers. The new service is called Instant Pickup and it allows Prime Student members to get a selection of items at Amazon lockers for pickup in two minutes or less.

Access RDI's Target Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=TGT

Our Actionable Research on Urban Outfitters, Inc. (NASDAQ: URBN) and Target Corporation (NYSE: TGT) can be downloaded free of charge at Research Driven Investing.

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