Skip to main content

Market Overview

Pivotal Upgrades Under Armour Due To 'Disconnect Between Reality And Sentiment'

Share:
Pivotal Upgrades Under Armour Due To 'Disconnect Between Reality And Sentiment'

While Under Armour Inc (NYSE: UAA) seems to be better positioned now than it was pre-pandemic, this is not reflected in its stock, according to Pivotal Research.

The Under Armour Analyst: Mitch Kummetz upgraded Under Armour's stock from Hold to Buy, while raising the price target from $15 to $20.

The Under Armour Thesis: There seems to be a “disconnect between reality and sentiment” for the company’s stock, Kummetz said.

The analyst mentioned a few reasons for believing that Under Armour is “better off today than before COVID.” The pandemic has boosted athletic demand, “which is a rising tide for UAA."

Moreover, the pandemic had also accelerated the adoption of ecommerce, “which favors apparel/footwear vendors in general,” Kummetz wrote. He also believes the competitive landscape is less ominous than it was before the pandemic.

“While UAA’s shares have had a nice bounce since March, they are basically in line with where they were before COVID, and this price action is worse than the average peer apparel/footwear vendor and much worse than the average peer athletic company,” the analyst wrote in the note.

UAA Price Action: Shares of Under Armour opened Monday's session at $17.56 and traded around $17.17 at the time of publication.

Latest Ratings for UAA

DateFirmActionFromTo
Feb 2021OppenheimerUpgradesPerformOutperform
Feb 2021Credit SuisseMaintainsNeutral
Feb 2021Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for UAA
View the Latest Analyst Ratings

 

Related Articles (UAA)

View Comments and Join the Discussion!

Posted-In: Mitch Kummetz Pivotal ResearchAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

StockFirmActionPT
NIUDaiwa CapitalInitiates Coverage On41.5
QMCONorthland Capital MarketsInitiates Coverage On12.0
IBKRJefferiesInitiates Coverage On89.0
MRETFTD SecuritiesDowngrades18.5
SWKSGoldman SachsDowngrades135.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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