Williams Trading Upgrades Under Armour, Inc. (UAA) to Buy on Improving Outlook
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(Updated - April 30, 2021 6:28 AM EDT)
The analyst commented, "Buy UAA. Turnaround that has been set up by a 40% SKU count reduction since 2017 and re-targeting the Under Armour brand towards the "focused performer" has recently been advanced by the macro trend towards an active lifestyle, improving sales momentum in its largest customers, and stimulus money which should bring more people to the brand. The current momentum allows UAA to more smoothly cut its ties with 2K to 3K undifferentiated retailers in the U.S. At the same time, UAA has the opportunity, in a very measured manner, to engage
a few of the retailers with whom Nike (NKE-Buy-$189 PT) has decided to longer do business. The pandemic was a horrible event, but will prove to be a blessing in disguise, as UAA was able to solidify a long term plan, rather than chase potential sales, if the pandemic had not occurred."
Shares of Under Armour, Inc. closed at $20.09 yesterday.
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