Needham & Company Downgrades Under Armour, Inc. (UA) to Hold; Shares Appear Fairly Valued

Needham & Company downgraded Under Armour, Inc. (NYSE: UA) from Buy to Hold.

Analyst, Sean McGowan, said, "UA shares have risen over 10% since the company reported 4Q results. At that time, we raised our rating from Hold to Buy, setting a 12-month price target of $86. The shares have handily outperformed broader market indexes since then, and are, in our opinion, now selling at a full and fair valuation. We are lowering our rating from Buy to Hold strictly on the basis of this fair valuation; we have made no changes to our sales or profit forecasts, and see no reason to be concerned about upcoming results. As always, we will re-evaluate the stock’s valuation vis-à-vis its prospects and review our stance accordingly."

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 $84.87 yesterday.

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