In a report published Thursday, Goldman Sachs analyst Lindsay Drucker Mann resumed coverage on Under Armour UA with a Neutral rating and $57.00 price target.
In the report, Mann noted, “We resume coverage of UA with a Neutral rating. UA is a compelling long-term investment, with significant out-year earnings opportunity as the brand expands across categories and channels, and the margin profile improves. Over the next 6-12 months a number of initiatives to drive long-term growth are being digested, but we await visibility to the timing of their impact before getting more constructive. Our $57, six-month price target implies +12% upside.”
Under Armour closed on Wednesday at $50.97.
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