Analyst Ratings for Under Armour, Inc. (UA)

Overall Rating: NEUTRAL Rating Trend:

Avg. $ Target: $77.33 (+23.7%)

Date	Firm	Type	Rating (Past)	PT (Past)	Start $	End $	% Chg.	Details
4/22/2013	Buckingham Research	Downgrade	Neutral (Buy)	60.00 (57.00)	56.41	62.51	10.81%	Details
4/15/2013	DA Davidson	Upgrade	Buy (Neutral)	N/A (N/A)	57.00	62.51	9.67%	Details
4/15/2013	Susquehanna	Upgrade	Positive (Neutral)	N/A (N/A)	57.00	62.51	9.67%	Details
4/2/2013	Barclays	New Coverage	Overweight (N/A)	60.00 (N/A)	50.56	62.51	23.64%	Details
3/28/2013	Goldman Sachs » Updated 4/22/2013	New Coverage	Neutral (N/A)	63.00 (57.00)	50.97	62.51	22.64%	Details
2/26/2013	Cowen	New Coverage	Neutral (N/A)	N/A (N/A)	46.69	62.51	33.88%	Details
1/7/2013	Morgan Stanley	Downgrade	Equalweight (Overweight)	N/A (N/A)	49.35	62.51	26.67%	Details
1/4/2013	Credit Suisse	Upgrade	Outperform (Neutral)	59.00 (N/A)	49.66	62.51	25.88%	Details
12/12/2012	JPMorgan	New Coverage	Underweight (N/A)	45.00 (N/A)	51.31	62.51	21.83%	Details
9/17/2012	Argus	Downgrade	Hold (Buy)	N/A (N/A)	60.03	62.51	4.13%	Details
6/21/2012	UBS » Updated 4/22/2013	Downgrade	Neutral (Buy)	59.00 (55.00)	105.18	62.51	-40.57%	Details
5/9/2012	Benchmark	New Coverage	Buy (N/A)	104.00 (N/A)	92.68	62.51	-32.55%	Details
4/13/2012	Janney Montgomery Scott » Updated 1/25/2013	New Coverage	Neutral (N/A)	N/A (N/A)	95.08	62.51	-34.26%	Details
4/9/2012	Sterne Agee » Updated 3/12/2013	Upgrade	Buy (N/A)	64.00 (N/A)	95.53	62.51	-34.57%	Details
4/4/2012	Stifel Nicolaus	Downgrade	Hold (N/A)	N/A (N/A)	98.09	62.51	-36.27%	Details

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