- BMO Capital analyst Simeon Siegel upgraded Under Armour Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
