Under Armour price target raised to $11 from $8 at Wells Fargo

Wells Fargo raised the firm’s price target on Under Armour (UAA) to $11 from $8 and keeps an Equal Weight rating on the shares following the company’s Q2 earnings report. The firm believes Under Armour is “moving aggressively to reset the brand,” and sees the “turnaround getting traction.” However, revenue remained weak in Q2, particularly in North America, and Wells sees “limited upside from here.”