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Urban Outfitters (URBN) Stock Downgraded at Wunderlich Securities

NEW YORK (TheStreet) -- Urban Outfitters (URBN - Get Report) stock was downgraded to "hold" at Wunderlich Securities on Monday with a price target of $30.

The Philadelphia-based retail and wholesale company's stock is down 19.64% year-to-date.

Urban Outfitter's retail segment consists of Urban Outfitters, Anthropologie Group, Free People and the Terrain brands, which are marketed to people ages 18 to 28.

Wunderlich Securities "expressed concern about the company's ability to keep up with the competition in the teen retail space based on styles and pricing," Marketwatch reports.

Warm weather is also hurting fall sales of sweaters and outwear at Anthropologie and Free People, Marketwatch said.

Earlier this month, Gawker reported that Urban Outfitters asked salaried employees to work for free at a Pennsylvania fulfillment center to keep up with the fall rush.

Wunderlich Securities pointed to this as evidence that there may be "teething problems at the new center, which could impact results into the holiday season," Benzinga reports.

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