BMO Capital analyst Simeon Siegel lowered the firm’s price target on Under Armour to $10 from $12 but keeps an Outperform rating on the shares after its Q4 results, below-consensus guidance, and the announced restructuring plan. The firm notes that the management’s discussion about brand elevation through revenue contraction should shift the discussion on Under Armour from that of a struggling growth story to an undervalued brand turnaround. Transitions take time, but this is a long-term positive for the brand, the analyst tells investors in a research note.
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Read More on UAA:
- UAA Earnings: Under Armour Nosedives After Outlook Disappoints
- William Blair downgrades Under Armour to Market Perform on business reset
- Under Armour downgraded to Market Perform from Outperform at William Blair
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- Under Armour reports Q4 inventory was down 19% to $958M
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