UPDATE - UBS Upgrades Under Armour (UA) to Buy; Recent Pullback Offers Opportunity

UPDATE - UBS upgrades Under Armour (NYSE: UA) from Neutral to Buy. PT raised from $100 to $105.

Analyst, Michael Binetti, said, "UA's stock has pulled back by -10% over the past 3-wks. Meanwhile, we believe retail sell-thru’s are ahead of plan in 2Q-to-date, the brand is gaining share in core categories, new distribution is coming online (dept stores), and the brand is gaining credibility in new categories (running,
b’ball). Importantly, we believe strong innovation & higher price pts in ColdGear this fall will drive upside to Street ests. We are raising our '12E EPS to $2.45 from $2.41 & '13E EPS to $3.15 from $3.10."

To see more ratings on UA, Click Here

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