BofA lowered the firm’s price target on Under Armour (UA) (UAA) to $10 from $12.50 and keeps a Neutral rating on the shares. Following the Q3 beat on sales and gross margins, the firm is raising its FY25 EPS view by 5c to 31c, but adds that the Q3 beat is partially offset by Q4 weakness in the APAC region. The firm is applying a lower multiple to its estimates to reflect a longer path towards a brand turnaround, driving its lower price target on the shares.
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