Benchmark Starts Under Armour, Inc. (UA) at Buy; Pullback Creates Opportunity For Brand We Love

Benchmark initiates coverage on Under Armour, Inc. (NYSE: UA) with a Buy. PT $104.00.

Analyst, Robert Samuels, said, "We love the Under Armour brand and believe that it has multiple growth opportunities going forward, including an expansion of its core apparel line through innovation (i.e. Charged Cotton, Cold Black), category expansion (particularly footwear), women’s business, direct-to-consumer and, longer-term, international. We are using the recent pullback in the stock, down 8% since May 2 compared to a 2% decline in the S&P 500, as an opportunity to own a name where we expect at least 20-25% top-line growth and very little exposure to Europe (international equals ~6% of sales)."

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 $92.68 yesterday.

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