BofA raised the firm’s price target on Urban Outfitters to $45 from $42 and keeps a Buy rating on the shares after” a strong holiday” that featured sales were up 10% year-over-year in November/December. Retail sales were up 8%, driven by a 6% increase in comps, notes the firm, which is raising its FY24 and FY25 EPS estimates by 5% and 7%, respectively, to reflect the record holiday sales and further margin expansion potential.
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