Under Armour (UA) PT Lifted to $120 at Sterne Agee CRT; Brand is 'On Fire'
Sterne Agee CRT analyst Sam Poser reiterated his Buy rating and boosted his price target on Under Armour, Inc. (NYSE: UA) to $120.00 (from $95.00) following strong Q2 results, saying the brand "is on fire from the corner, on the green, and on the barre."
Poser commented, "UA continues to be our #1 pick for long-term growth investors. UA is poised for revenue CAGR of at least ~22% over the next 5 years ($10B by 2020). The core men's domestic wholesale business remains strong, but growth will be driven by women's & kids' apparel, footwear, DTC, and international expansion. The brand, and its management, is sacrosanct. Marketing investments are accelerating to support the brand and its growth. The acquisitions of new digital platforms and ongoing innovation will continue to enhance the Under Armour brand's relationship with athletes. Guidance will continue to increase as the year progresses."
The firm is maintaining 2015 EPS estimate of $1.09, while trimming 2016 EPS estimate by $0.02 to $1.51, given the company's increase in spending. They are introducing 2017 EPS estimate of $1.92.
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Shares of Under Armour, Inc. closed at $89.37 yesterday.