Torrid price target raised to $7 from $5 at BofA

BofA analyst Lorraine Hutchinson raised the firm’s price target on Torrid (CURV) to $7 from $5 and keeps a Buy rating on the shares after meeting with the company’s CEO, CFO and Chief Strategy and Planning Officer at the ICR conference. The firm, which is “encouraged” by a positive customer response to the recent capsule launches as well as better inventory management, expects a sales inflection in Q1 and raised its target to reflect increased confidence in the sales turnaround strategy and earnings power.