Citi Assumes, Upgrades Under Armour, Inc. (UAA) to Buy

Citi analyst Paul Lejuez upgraded Under Armour, Inc. (NYSE: UAA) (NYSE: UA) from Neutral to Buy with a price target of $29.00 (from $23.00) in assumed coverage.

• UAA is growing up with a renewed focus on driving profitability and ROIC
• After chasing 20%+ top line growth during the 2010-2016 period, UAA has taken action to adapt to the changing athletic landscape.
• With just a 3.4% EBIT margin in 2018, UAA has the opportunity to recapture 600bps+ in EBIT margin over the next several years.
• near-term, they see upside to management’s F19 gross margin guidance

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 $20.92 yesterday.

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