According to a research report this morning, Morgan Stanley expects a strong quarter for Under Armour UA improves operations and continues its success within the lightweight running shoe trend.
Morgan Stanley explained, “We estimate of the sell-in of UA's new lightweight running shoe could add an incremental $20M to 2Q footwear revenue growth, which should produce ~65%+ year over year growth, and could cause total sales to accelerate above 25%.”
Under Armour closed yesterday at $94.36 with a PT of $116 and an Overweight rating.
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