Argus keeps a Buy rating and $10 price target on Under Armour, saying the pullback in the stock offers a “buying opportunity”. The company was hurt during the first months of the pandemic by restrictions on team sports and retail store closures, but since then, it has worked to improve results by closely managing inventory, focusing on premium products, launching a rewards program, and lowering costs, the analyst tells investors in a research note. Founder Kevin Plank has also returned as the company’s CEO and plans to drive growth at Under Armour through brand elevation, improved messaging, and storytelling, the firm added.
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