Why Under Armour's Raised FY16 Outlook 'Looks Highly Achievable'

Under Armour Inc 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.

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.”

Related Link: Under Armour Pops 5% Following Q1 Beat, Raises Outlook

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.

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Posted In: Analyst ColorEarningsLong IdeasNewsGuidanceReiterationAnalyst RatingsTrading IdeasPamela QuintilianoSunTrust Robinson Humphrey
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