UPDATE: Baird Downgrades Under Armour, Inc. (UAA) to Neutral

Baird analyst Jonathan Komp downgraded Under Armour, Inc. (NYSE: UAA) from Outperform to Neutral with a price target of $10.00.

The analyst comments "FQ1 results were relatively in-line; however, selected pockets of weakness and a much lower F2023E margin outlook are materially weighing on current earnings visibility. While we believe UAA can achieve higher profitability over a longer-term horizon with consistent execution under the right leadership, multiple factors are contributing to heightened F2023-2024E earnings risk amid an uncertain macroeconomic environment. We are lowering F2023E EPS to $0.30 (below guide) while trimming F2024E to $0.45 embedding expectations for a more challenging economy."

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 $9.33 yesterday.

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