HALISTER1: Under Armour Gains Pre-Mkt as Jefferies Raises Rating to Buy

Under Armour Gains Pre-Mkt as Jefferies Raises Rating to Buy

(Bloomberg) -- Under Armour shares have become a buying opportunity as a bottom has now formed in the stock, Jefferies says in note; shares are up ~4% pre-mkt after closing at the lowest level since August 2013 on Thursday.
  • Cites survey of 2,000 consumers showing the UAA brand has strengthened and athletic apparel demand is robust
  • Says UAA is “one of the few brands that matter” in the athletics space
  • Revises 2018 EPS forecast to 13% above consensus
  • PT raised to $27 from $19
  • UAA has 8 buys, 22 holds, 5 sells; avg. PT $21: Bloomberg data
  • Shares down 35% YTD vs S&P 500 Consumer discretionary index up 6.2%
  • NOTE: Nike Analysts Defend Ratings, Whatever They Are: Street Wrap

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
UAA US (Under Armour Inc)

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