Goldman Sachs Sees "Relief Rally" in Under Armour (UA) on Q4 Results

Goldman Sachs reiterated its Buy rating and $99 price target on Under Armour, Inc. (NYSE: UA) ahead of earnings on January 26, saying Q4 weather fears creates a attractive buying opportunity.

While Goldman is not expecting upside in the quarter and is modestly below the consensus, they sees the potential for a relief rally more along the lines of the jump in Dick's Sporting Goods (NYSE: DKS) ater 1/12 pre-announcement. The firm said near-term risk is less bad than some fear and they see a path to meaningful upside in the 2nd-half of the year.

The firm tweaked Q4 EPS estimates from $0.63 to $0.60 but maintained 2012/13 estimates.

For an analyst ratings summary and ratings history on Under Armour, Inc. click here. For more ratings news on Under Armour, Inc. click here.

Shares of Under Armour, Inc. closed at $73.62 yesterday, with a 52 week range of $51.77-$87.40.

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