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Urban Outfitters Inc. (NASDAQ: URBN) released its most recent quarterly results after the markets closed on Tuesday. The firm ultimately came out on top of this most recent report, keeping its strong winning streak alive, and thanks to the help of analysts rushing to its side.

24/7 Wall St. has included some highlights from the earnings report, as well as what analysts said after the fact.

The retailer said that it had $0.69 in earnings per share (EPS) on $1.09 billion in revenue. That compared with consensus estimates of $0.63 in EPS and revenue of $1.08 billion. The same period of last year reportedly had EPS of $0.55 and $1.03 billion in revenue.

During the quarter, comparable Retail segment net sales increased 4%, driven by strong, double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 8% at Free People, 5% at the Anthropologie Group and 2% at Urban Outfitters. Wholesale segment net sales increased 6.3%.

Merrill Lynch reiterated a Buy rating and raised its price objective to $48 from $40. The firm offered its investment rationale:

Urban is one of the most appealing growth stories in specialty retail, in our opinion. Its three proven concepts each have significant room for substantial expansion and its product is differentiated and compelling. A recovery in sales productivity levels at key brands and improving operating margins provide significant near-term earnings growth potential. Longer-term, square footage growth and an increasing penetration of commerce sales should drive earnings higher.

A few other analysts weighed in on the stock as well:

• BMO Capital markets raised its price target to $37 from $28.
• Jefferies raised its price target to $43 from $40.
• JPMorgan raised its price target from $38 to $42.
• KeyBanc Capital Markets has an Overweight rating and raised its target to $45 from $36.
• Morgan Stanley has an Equal Weight rating and raised target to $33 from $28.
• RBC Capital Markets raised its price target from $37 to $40.
• SunTrust Robinson Humphrey raised its target price to $42 from $40.
• Telsey Advisory raised the price target to $39 from $38.

Shares of Urban Outfitters were last seen up about 2% at $37.76 on Wednesday, with a consensus analyst price target of $34.62 and a 52-week range of $16.19 to $38.28.

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