Bank of America Merrill Lynch: Under Armour continues to grow, driven by improved domestic and international brand visibility

On Monday Bank of America Merrill Lynch issued a report on Under Armour Inc.

ahead of the release of first quarter earnings on April 21st . Currently Bank of America Merrill Lynch rates Under Armour as a Buy and raised their price target from $88 to $95. Robert Ohmes and Rafe Jadrosich, analysts at Bank of America Merrill Lynch wrote, "We believe UA is poised to become a leading global athletic brand and believe, long term, UA could triple in revenues through: growth in core apparel through continued market share gains, supported by new programs and category extensions, continued expansion in direct to consumer, expansion in athletic footwear longer term, and long term international acceleration." Bank of America Merrill Lynch expects earnings to be in line with forecasts of $0.03 per share along with a 25 percent gain in revenue growth. Under Armour's endorsed athletes, including Jordan Spieth and Stephen Curry, have been very successful this year and have greatly aided the visibility of the brand and expanded its worldwide appeal. Under Armour's footwear brand may experience the largest growth rate as the quality of the product and increased visibility of the brand by star athletes have increased their demand. Analysts believe Under Armour's business operations are expected to maintain a 40 percent growth rate in 2015 due to: 1. Asian expansion mainly through new revenue streams in China 2. Latin American shipments to subsidiaries 3. Improving market conditions in Europe Shares of Under Armour last traded at $85.14.