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UPDATE: Sterne Agee Downgrades Under Armour

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High flying share of Under Armour (NYSE: UA) were downgraded by Sterne Agee from Buy Neutral, but announced a 2017 price target of $170.

Analyst Sam Poser remains “very bullish on the long-term outlook for UA due to the ongoing momentum of all apparel categories, progress in athletic footwear, and the pending material acceleration of international growth.”

However, the analyst “finds it difficult to step in now with a 12- to 18-month time horizon given the 65X multiple on [his] FY14 EPS estimate.”

Shares of Under Armour are down 1.4 percent to $120.25 in Thursday's pre-market trading.

Latest Ratings for UA

DateFirmActionFromTo
Jan 2017CLSAInitiates Coverage OnBuy
Nov 2016Stifel NicolausMaintainsHold
Oct 2016MizuhoDowngradesBuyNeutral

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Posted-In: Sam Poser Sterne AgeeAnalyst Color Analyst Ratings

 

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