Market Overview

UPDATE: Credit Suisse Upgrades Under Armour to Outperform, Raises PT

Share:
Related UA
UPDATE: Under Armour Announces Signing of Memphis Depay
Morgan Stanley Bullish On Under Armour's 'Connected Fitness' Strategy, Hikes Bull Case Price Target
Under Armour wants you to wear your smartphone (Seeking Alpha)

In a report published Friday, Credit Suisse Group upgraded its rating on Under Armour (NYSE: UA) from Neutral to Outperform, and raised its price target from $57.00 to $59.00.

Credit Suisse noted, “We are adjusting our estimates to reflect the following FY13 positive catalysts: 1) channel expansion; 2) favorable sourcing environment; 3) recent investments in supply chain and sourcing staff; 4) likely validation of long-term growth targets at mid-year analyst day; and 5) easy margin compares in 2H13 given misexecution in 2H12. Our FY13 revenue and EPS estimates go $2,259.6M, and $1.56 from $2,228.5M and $1.49 and our FY14 estimates go to $2,640.8M and $1.94 from $2,604.2M and $1.86.”

Under Armour closed on Thursday at $49.66.

Latest Ratings for UA

DateFirmActionFromTo
Feb 2015JP MorganMaintainsNeutral
Feb 2015CitigroupMaintainsBuy
Feb 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for UA
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (UA)

Around the Web, We're Loving...

Get Benzinga's Newsletters