Truist initiated coverage of Under Armour (UAA) with a Hold rating and $8 price target. The analyst says the company is in the early stages of a brand refresh. Simultaneously promoting both the performance-momentum and lifestyle segments will likely prove to be a tough task, especially as wholesale inventory congestion and softer discretionary spending trends create further headwinds for this “show me” story, the analyst tells investors in a research note.
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Read More on UAA:
- Bain eyeing Varsity Brands cash-out at $6B-plus valuation, Reuters says
- Under Armour price target lowered to $11 from $14 at Stifel
- Under Armour price target raised to $9 from $8 at Barclays
- Under Armour (NYSE:UAA) Gains on Strong Q2 Print
- Under Armour backs FY24 EPS view 47c-51c, consensus 50c
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