UPDATE: Sterne Agee Downgrades Urban Outfitters on Decreasing Brand Confidence

In a report published Monday, Sterne Agee analyst Ike Boruchow downgraded the rating on Urban Outfitters (NASDAQ: URBN ) from Buy to Neutral, and lowered the price target from $45.00 to $42.00. In the report, Sterne Agee noted, “We are lowering estimates and downgrading shares of URBN to Neutral from