BofA Securities Reiterates Buy Rating on Urban Outfitters, Inc. (URBN)

BofA Securities analyst Lorraine Hutchinson reiterated a Buy rating and $52.00 price target on Urban Outfitters, Inc. (NASDAQ: URBN)

The analyst comments "URBN posted a nice beat, with strong sales growth at Anthropologie & Free People (FP) but continued weakness at Urban (UO). Better GM, improving QTD trends at UO & momentum at the other brands were positives. Lower 2Q GM guidance was disappointing, but this clearance should position UO for a better 2H. We are raising our F25/26E EPS estimates by 2%/1% to $3.61/$4.15 to reflect the 1Q beat (69c vs. our 48c) and maintaining our $52 PO (still 7x EV/EBITDA). We expect continued momentum at the core brands and see further GM improvement opportunities and reiterate our Buy rating."

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $41.32 yesterday.

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