Sterne Agee CRT Reiterates Buy on Under Armour (UA) Following Investor Day
Sterne Agee CRT reiterated a Buy rating and $120.00 price target on Under Armour, Inc. (NYSE: UA) following the company's investor day. Management laid out the company's top- and bottom-line growth plans. Revenue CAGR of 25% is broad based, with the strongest growth coming from the international, footwear, DTC, and women's businesses.
Analyst Sam Poser commented, "Reiterate Buy. UA continues to be our #1 pick for long-term growth investors. UA's Investor Day was very informative, as management laid out the company's top- and bottom-line growth plans. Revenue CAGR of 25% (2014-2018) is broad based, with the strongest growth coming from the international, footwear, DTC, and women's businesses. 2018 operating margin target of $800M equates to a 23% CAGR. Needed investments in marketing and infrastructure are accelerating to support the brand and its growth. The brand remains sacrosanct, and the company continues to focus on its athletes/customers. The acquisitions of new digital platforms and ongoing innovation will continue to enhance the Under Armour brand's relationship with athletes."
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Shares of Under Armour, Inc. closed at $103.36 yesterday.