Shares of Under Armour UA are recovering losses from Thursday's 7.3 percent drop on earnings thanks to an upgrade1 from Stifel Nicolaus and news the stock will be included in the S&P 500. Shares are higher by 1.5 percent.
Analyst Jim Duffy upgraded the shares from Hold to Buy and announced a $65 price target, which represents 26 percent upside from current levels.
The upgrade is based on:
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- Notable evidence of building traction in footwear (+41% vs. +25% in FY13).
- International growth (+79% vs. +42% in FY13).
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