Goldman Sachs Resumes Under Armour, Inc. (UA) at Neutral

March 28, 2013 7:52 AM EDT
Get Alerts UA Hot Sheet
Price: $25.16 -0.4%

Rating Summary:
    20 Buy, 26 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs resumes coverage on Under Armour, Inc. (NYSE: UA) with a Neutral rating and $57 price target, saying long-term the shares are compelling but they are on the sidelines until growth investments are digested.

"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," Goldman's analyst said.

Looking at drivers of growth, Goldman said making direct work would be "game changer" the firm said. "We estimate transitioning 25% of wholesale sales into
direct retail would add 20% to EBIT dollars". In addition, Women's is a significant opportunity and they see significant margin opportunity as supply chain enhancements take hold.

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 $50.97 yesterday.

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