Citi lowered the firm’s price target on Under Armour (UAA) to $8 from $12 and keeps a Neutral rating on the shares following the fiscal Q3 report. The upside to earnings was limited by higher than expected spending, the analyst tells investors in a research note. Looking forward, management pointed to additional marketing investments needed to go after a younger consumer, the analyst tells investors in a research note. Citi says visibility into a North America turnaround for Under Armour is still unclear, and that it sees less earnings upside potential in fiscal 2026 post the earnings report.
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