Piper Jaffray Upgrades Under Armour, Inc. (UA) to Overweight

Piper Jaffray upgraded Under Armour, Inc. (NYSE: UA) from Neutral to Overweight with a price target of $78.00 (from $63.00) after transitioning coverage.

Analyst Erinn Murphy said, "... the company is poised to continue to see significant market share gains across the board with particular areas of emphasis in women's, footwear and international supporting a market cap that can at least double over time. We believe the Fall season has started particularly strong with building momentum in women's and international. While we are maintaining our FY14 estimates, we believe they are conservative. We are increasing our FY15 EPS from $1.15 to $1.20 and believe that over time, EPS power of $3.50 is achievable."

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 $67.75 yesterday.

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