- BMO Capital analyst Simeon Siegel upgraded Under Armour Inc (NYSE:UAA) to Outperform from Market Perform with a price target of $25, up from $23, implying a 32.56% upside.
- Simeon believes the recent selloff discounts Under Armour's pandemic transformation by re-focusing on profits over growth for growth's sake.
- With recent industry updates and "increasingly challenging compares" weighing on the sector, the analyst thinks Under Armour represents a healthy brand thrown out with the industry bathwater.
- Although Siegel does not expect to call the bottom of the market's selloff, with Under Armour down 30% since mid-November, he sees current risk/reward as "particularly compelling."
- Price Action: UAA shares closed lower by 2.28% at $18.86 on Friday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
BMO Capital Upgrades Under Armour To Outperform
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks