Wells Fargo analyst Will Gaertner lowered the firm’s price target on Under Armour to $6 from $7 and keeps an Equal Weight rating on the shares following the company’s Q4 earnings results. While the results were relatively in-line with expectations, the firm sees the stock remaining range bound due to the announcement of the second restructuring plan in four years, in another attempt to “reinvigorate the struggling UA brand.”
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Read More on UAA:
- UAA Earnings: Under Armour Nosedives After Outlook Disappoints
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- UNDER ARMOUR REPORTS FOURTH QUARTER AND FULL-YEAR FISCAL 2024 RESULTS; PROVIDES INITIAL FISCAL 2025 OUTLOOK
- Under Armour announces restructuring plan
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