BofA raised the firm’s price target on Urban Outfitters to $42 from $35 and keeps a Buy rating on the shares following the company’s Q2 report. The flagship turnaround is making progress, but is taking longer than expected, though the Anthropologie and Free People brands are showing “continued outperformance,” the analyst tells investors. The firm is raising its FY24 and FY25 EPS estimates by 12% and 17%, respectively, to reflect continued strength in Anthro and Free People.
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Read More on URBN:
- Urban Outfitters’ (NASDAQ: URBN) Q2 Earnings Smash Estimates with $1.27 Billion in Sales
- Urban Outfitters price target raised to $47 from $45 at Barclays
- Urban Outfitters reports Q2 comparable Retail segment sales up 4.9%
- URBN Reports Record Q2 Sales
- Urban Outfitters reports Q2 EPS $1.10, consensus 89c