Shares of Urban Outfitters (URBN) - Get Urban Outfitters, Inc. Report are lower by 2.9% to $26.10 in pre-market trading on Monday morning, following a rating downgrade to "sell" from "neutral" at MKM Partners.

The downgrade comes as the firm is concerned about the retailer's margin trends. MKM highlighted weakness in the company's Anthropologie brand.

The firm set a $20 price target on Urban Outfitters stock.

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