Argus Downgrades Under Armour, Inc. (UA) to Hold
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Argus downgraded Under Armour, Inc. (NYSE: UA) from Buy to Hold, saying investment will likely to hinder growth.
The analyst said although they expect Under Armour to post strong revenue going forward, they think that further expansion of the business will require substantial investment, which will add debt and interest expense and weigh on earnings growth.
In addition, Under Armour trades at a high current-year P/E, well above the average for other apparel companies they cover.
Shares of Under Armour, Inc. closed at $41.56 yesterday.
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