Bank of America Merrill Lynch Maintains Buy on Urban Outfitters

Bank of America Merrill Lynch is out with its report today on Urban Outfitters URBN, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "We continue to view Urban as one of the better long-term growth stories in specialty retail. Its three proven concepts have significant room for expansion and its product is differentiated and compelling. Square footage growth should be the main driver of earnings growth for the next three to five years." Bank of America Merrill Lynch maintains a $40 PO on URBN. At the time of posting, shares of URBN were trading pre-market at $28.25, down 0.84% from Wednesday's close.