Under Armour selloff yesterday should be bought, says BMO Capital

BMO Capital recommends buying the weakness in Under Armour (UAA) shares yesterday following the investor meeting. The event was “numbers-light,” but continued to showcase “Achieve More, by Doing Less,” the analyst tells investors in a research note. BMO continues to expect Under Armour shares to keep “gapping up,” then fading back to higher lows as the company works to regain investor appreciation. It remains “excited” over the company’s “meaningful” earnings opportunity and keeps a Buy rating on the name with a $12 price target