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Under Armour Inc (NYSE: UA) reported its F1Q results above expectations, while raising its FY16 guidance.
Pamela Quintiliano of SunTrust Robinson Humphrey reiterated a Buy rating on the company, with a price target of $55.
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F1Q And Guidance
Quintiliano believes that the robust F1Q beat “speaks to ongoing execution in a challenging environment.”
The analyst also mentioned that the raised FY16 guidance for sales and operating income was “highly achievable.”
Looking Forward
Quintiliano expects Under Armor’s present momentum to continue going forward.
The analyst stated that this momentum, along with “belief that ongoing product innovation/merchandising efforts, high-profile sponsorships and expanded points of distribution” were likely to further elevate the company’s brand globally.
The FY16 and FY17 EPS estimates have been raised from $0.65 to $0.67 and from $0.85 to $0.87.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.