Sterne Agee Reit. 'Buy' on Under Armour (UA) Ahead Q4, Says VP Resignation Not a Major Setback

Sterne Agee's Sam Poser reiterated a Buy and $64 price target on Under Armour, Inc. (NYSE: UA) ahead of Q4 results due on January 31.

Poser said UA is positioned well for multi-year growth and he doesn't believe the resignation of Gene McCarthy, SVP of Footwear is a major setback.

"Buy UA on weakness. There are multiple revenue growth avenues in North America in FY13 and international prospects (Latin America) in 2014 and beyond. The resignation of Gene McCarthy (SVP of footwear) is not good nor is it a negative game changer. UA is well positioned to continue its progress in footwear."

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 $47.69 yesterday.

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