Under Armour price target raised to $16 from $12 at UBS

UBS raised the firm’s price target on Under Armour (UA) (UAA) to $16 from $12 and keeps a Buy rating on the shares. The firm believes the company’s turnaround is not fully priced in despite the 27% post-earnings rally. UBS says its $16 price target implies 44% upside and 116% upside in its $24 “bull scenario.” Under Armour’s Q2 report showed the company is making progress turning its business around, but the rebound “is just getting started,” the analyst tells investors in a research note. The firm anticipates Under Armour’s growth will surprise the market and cause sentiment to continue improving “off of what are still very low levels.” It calls the stock a top buy idea for 2025.