Urban Outfitters price target lowered to $46 from $52 at BofA

BofA lowered the firm’s price target on Urban Outfitters to $46 from $52 and keeps a Buy rating on the shares. After a “strong” Q2 beat that came along with “signs of macro challenges,” the firm is raising its FY25 EPS view by 3% to $3.71 to reflect the Q2 beat, partly offset by Q3 margin pressure, and lowering its target to reflect more uncertainty in the sales outlook. The firm adds that it thinks Anthropologie and Free People are “two of the best performing apparel brands in the market” and sees Urban Outfitters as “in a healthier position” than last year.