Morgan Stanley: Under Armour Kicks up Traction with Operation Improvements

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.