Market Overview

UPDATE: Bank of America Raises PO on Under Armour on Near-Term Momentum

Share:

In a report published Friday, Bank of America Merrill Lynch analyst Robert Ohmes raised the price objective on Under Armour, Inc. (NYSE: UA) from $85.00 to $95.00 and maintained a Buy rating.

According to the report, UA's price objective raise is 41 to 42 times their C15 EPS estimate of $2.30, a premium to their historical 35 to 40 times PE average.

“Near-term top-line momentum should continue to be driven by expansion in core apparel, Direct to Consumer, and improving footwear trends. Longer term, UA should triple in revenues through growth in footwear (should become larger than apparel) and International (should become as large as the US),” the report said. “Risks are increased investments to support key launches, potential for missed execution of key launches, pressured near-term growth from a tough US environment, pressured margins related to high inventory levels, and delayed traction in international.”

UA closed Thursday at $86.47.

Latest Ratings for UA

DateFirmActionFromTo
May 2019UpgradesNeutralOverweight
Feb 2018MaintainsNeutralNeutral
Jan 2017Initiates Coverage OnBuy

View More Analyst Ratings for UA
View the Latest Analyst Ratings

Posted-In: Bank of America Robert OhmesAnalyst Color Price Target Analyst Ratings

 

Related Articles (UA)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
DEReiterates175.0
AMWDMaintains92.0
FTDRMaintains55.0
REDUDowngrades
ZSDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Bank of America Raises PO on Foot Locker on Improved Athletic Outlook

UPDATE: Bank of America Raises PO on VFC Corp on Macro Headwinds