MKM Partners analyst Roxanne Meyer lowered her price target on Urban Outfitters to $25 and kept her Neutral rating after its Q2 results and Q3 guidance. The analyst notes that the company's earnings beat was not "high quality", even though its comps decline of 3% was "not as bad as feared". Meyer further notes that the 4% increase in Urban Outfitters' comps during August-to-date period is "impressive", suggesting that the company's product and mix issues may be in the rear view mirror, but prefers to take a "wait-and-see approach" on the stock since it is still early in the fall season.