Under Armour Spikes Off Jefferies Upgrade

Under Armour Inc UAA shares are trading higher by $0.57 (3.3 percent) at $19.55 in Friday's session. The catalyst for the rally is an upgrade from Jefferies, which changed its rating from Hold to Buy.

Under Armour's stock, which has been unable to rebound from its route on January 30, falling from $28.94 to $21.94, bottomed at $18.40 Wednesday. That low coincides with its September 2013 low of $18.33.

After a higher open, the rally stalled ahead of the pair of highs from March 16 ($19.89) and March 17 ($19.94), only reaching $19.75 and reversing course. So far, the ensuing decline hasn't reached the upper-end of Thursday's range ($19.25), as $19.43 stands as the low for the session as of 11:25 a.m. ET.