Sterne Agee Reiterates Buy Rating, $64 PT on Under Armour on Sales Growth Drivers

In a report published Friday, Sterne Agee analyst Sam Poser reiterated a Buy rating and $64.00 price target on Under Armour UA. In the report, Poser noted, “Footwear and apparel will drive sales growth that will likely exceed guidance of 20%-21%. Hibbett (HIBB-$55.97-Buy) and Dick's Sporting Goods (DKS-$47.31-Buy) both planning double digit growth with UA. HIBB called out UA a "high growth supplier" driven by both apparel and footwear, and said that UA's growth would be higher than that of the other major athletic brands. HIBB called out UA fleece, cleats, and basketball and running shoes.” Under Armour closed on Thursday at $51.08.
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Posted In: Analyst ColorReiterationAnalyst RatingsSterne Agee
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