Urban Outfitters price target raised to $85 from $80 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Urban Outfitters (URBN) to $85 from $80 and keeps a Market Perform rating on the shares. The company’s topline momentum continued in Q3 and gross margins exceeded expectations, the analyst tells investors. The firm notes Q4 guidance was a bit mixed, reflecting “encouraging” topline momentum along with gross margin slightly below prior expectations.