UPDATE: Morgan Stanley Maintains Overweight on Urban Outfitters, Encouraged By Long-Term Strategy

In a report published Tuesday, Morgan Stanley analyst Jay Sole maintained an Overweight rating on Urban Outfitters, Inc. (NASDAQ: URBN ) with a price target of $47.00. According to the report, ICR left analysts encouraged by URBN's focus on UO and long-term strategy. The margin expansion story remains intact.