Urban Outfitters price target raised to $53 from $46 at BofA

BofA analyst Lorraine Hutchinson raised the firm’s price target on Urban Outfitters (URBN) to $53 from $46 and keeps a Buy rating on the shares after outperformance at Anthropologie, Free People and Nuuly offset declines at the namesake Urban banner. The firm thinks Anthro and FP are “two of the best performing apparel brands in the market,” view Nuuly as “a good growth opportunity,” and believes that the Urban Outfitters flagship is “laying the foundation to return to growth,” the analyst tells investors.