Wells Fargo analyst Ike Boruchow lowered his price target for Urban Outfitters to $44 from $50, while reiterating a Market Perform rating on the shares. The analyst notes that the company's Q3 results were solid, with it generating positive comps in both its digital and store channels. That said, the key issue for the stock is that the rate of change is slowing within the business, Boruchow contends, adding that Street numbers are likely to move down slightly for Q4 as Urban Outfitters gave a holiday outlook calling for further comp deceleration and less gross margin expansion opportunities, both of which are likely to cause concern when investors begin to turn the page to 2019.