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Urban Outfitters downgraded to market perform by FBR Capital

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Shares of the retailer Urban Outfitters, Inc. (NASDAQ:URBN) are lower this morning after FBR Capital downgraded the stock from outperform to market perform. The price target was cut from $44 to $37 a share. FBR cited concerns about weakening comp. sales as a major reason for the downgrade. Urban Outfitters is susceptible to the volatile winds of teenagers’ fashion fads.  However, on an YTD comparison, Urban Outfitters is doing significantly better than its competition.