Urban Outfitters, Inc. (URBN) PT Raised to $80 at BofA Securities

BofA Securities analyst Lorraine Hutchinson raised the price target on Urban Outfitters, Inc. (NASDAQ: URBN) to $80.00 (from $70.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating as UO has inflected positive and we continue to view Anthropologie and Free People as two of the best performing apparel brands in the market and Nuuly as a good growth opportunity. URBN reported 1Q EPS of $1.12, excluding a one-time gain in GM, beating our/VA ests of $0.77/$0.81 driven by better sales and GM. Outperformance was driven by all banners, with UO (+2%), Anthro (+7%) and FP (+3%) all comping positively while Nuuly sales were +60%. We are raising our F26/F27 ests by 9% and our PO to $80, still based on 8x F27E EV/EBITDA on higher ests."

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