MKM Partners analyst Roxanne Meyer lowered her price target on Urban Outfitters to $31 and kept her Neutral rating after its soft outlook for Q1 highlighted a "deteriorating trend" in January and a "hard fall" in February. The analyst notes that it may be too soon to assume that the blame can be placed on "weather and macro factors" and also points to the outlook for higher than anticipated SG&A amid investments in China, IT/digital, and overseas offices. Meyer further lowers her FY19 EPS view to $2.54 from $2.91 and FY20 view to $2.62 from $3.10.