Urban Outfitters Cut To Neutral From Buy At Janney

Urban Outfitters Inc. was cut to neutral from buy by Janney Capital analyst Adrienne Yih-Tennant on Friday after the retailer noted that a decline in third-quarter sales it first reported in early September has continued. "We had expected improvement in comp performance towards the end of the quarter, but we believe macro issues, including the Ebola crisis, global geopolitical unrest, and market volatility, have likely softened consumer demand across the board," she said. The analyst said she's also concerned about slowing sales growth at the company's Anthropologie brand. Urban slumped 13% in premarket trading.