Mizuho Securities Starts Under Armour, Inc. (UA) at Buy

Mizuho Securities initiates coverage on Under Armour, Inc. (NYSE: UA) with a Buy rating and a price target of $95.00.

Analyst Betty Chen commented, "We are initiating with a BUY rating and $95 PT, utilizing a ~2.2x PEG ratio multiple on our FY17 EPS estimate of $1.70 and ~26% earnings growth. While we recognize shares trade at a premium to its peers, we believe UA should represent a core growth stock given: (1) growing brand awareness built on technical performance gear supported by elite athletes; (2) nascent market share in a growing industry; (3) FY18 targets from domestic and Int’l expansion implies doubling EPS to ~$2.35; and (4) a Connected Fitness strategy to help drive consumer insight and conversion."

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 $81.27 yesterday.

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