UPDATE: Sterne Agee Initiates Coverage on Urban Outfitters on Continued Brand Strength

In a report published Friday, Sterne Agee analyst Ike Boruchow initiated coverage on Urban Outfitters (NASDAQ: URBN ) with a Buy rating and $45.00 price target. In the report, Sterne Agee noted, “We are initiating coverage of URBN with a Buy rating and $45 PT (20-21x 2014E EPS). While a