Baird on Under Armour: Removing Bearish Fresh Pick

Baird analyst Jonathan Komp reiterated a Neutral rating and $5.50 price target on Under Armour, Inc. (NYSE: UAA).

The analyst commented: "Removing Bearish Fresh Pick. We are removing our Bearish Fresh Pick after the stock has underperformed by ~9% since mid-September, and with NKE's FQ1 report (which was a potential negative read-through event) now behind us. We still see potential risk to UA's fiscal 2H projection, but the risk/reward looks more balanced especially with Frasers Group (~4% total ownership) recently disclosing a new stake. At <10X EV/EBITDA on depressed estimates and with sentiment low, we think short term downside risks look more limited."

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 $4.70 yesterday.

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