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UA

Under Armour

$38.23

0.45 (1.19%)

, NKE

Nike

$52.18

0.39 (0.75%)

11:17
10/10/16
10/10
11:17
10/10/16
11:17

Under Armour advances after upped on Kohl's deal, better inventories

The shares of Under Armour (UA) are climbing after Wells Fargo upgraded the stock to Outperform from Market Perform,saying that the company should benefit from its recent deal with Kohl's (KSS) and diminishing impact from The Sports Authority's liquidation. KOHL'S DEAL: After Under Armour made a deal with Kohl's in July, the sportswear maker's products should begin shipping to 600 Kohl's stores "shortly," according to Wells Fargo analyst Tom Nikic. In the second and third quarters of next year, United Armour's products will be shipped to another 600 Kohl's stores, he reported. IMPACT OF THE SPORTS AUTHORITY TO EASE: The negative impact of The Sports Authority's liquidation on Under Armour should peak in Q3, Nikic wrote. That's partly because, due to seasonal factors, Under Armour generated the largest revenue from The Sports Authority in Q3, while Under Armour can probably sell products that were destined for The Sports Authority to off-price retailers, the analyst stated. In early 2017, Under Armour's headwind from The Sports Authority should end completely, Nikic believes. INVENTORY LEVELS IMPROVING: Investors had been worried about elevated inventory levels at Under Armour and at its largest customer, Dick's Sporting (DKS), according to Nikic. Last quarter, both companies' inventory growth slowed, the analyst noted. Moreover, Dick's "lean" inventory indicates that consumer demand for Under Armour's products was "strong," the analyst stated. GROWTH OUTLOOK, PRICE TARGET: Noting that Nike's (NKE) sales are still seven times larger than those of Under Armour, Nikic wrote that Under Armour has "noteworthy opportunities to narrow the gap" by growing its overseas and footwear/sportswear businesses. Additionally, Under Armour can improve its margins and "below the line items," Nikic believes. He raised his price target range on Under Armour to $44-$46 from $38-$42. PRICE ACTION: In late morning trading, Under Armour rose 1.5% to $38.36 per share.

UA

Under Armour

$38.23

0.45 (1.19%)

NKE

Nike

$52.18

0.39 (0.75%)

DKS

Dick's Sporting

$57.39

-0.32 (-0.55%)

KSS

Kohl's

$45.90

-0.23 (-0.50%)

  • 23

    Oct

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    Oct

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    Nov

  • 16

    Nov

UA Under Armour
$38.23

0.45 (1.19%)

10/10/16
10/10/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Mylan (MYL) upgraded to Strong Buy from Market Perform at Raymond James with Elliot WIlbur saying the Department of Justice settlement over EpiPen rebates eliminates a significant overhang on shares enabling the focus to be back on fundamentals. 2. Under Armour (UA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying "noise" from the Sports Authority's bankruptcy is fading while distribution expansion could lead to sales re-acceleration over the next 12-18 months. 3. Deere (DE) and AGCO (AGCO) were upgraded to Outperform from Market Perform at Wells Fargo. 4. Dow Chemical (DOW) upgraded to Buy from Neutral at UBS with analyst John Roberts saying the merger with DuPont (DD) could gain regulatory approval and that the stock is "now too cheap to ignore." 5. Exelixis (EXEL) upgraded to Overweight from Neutral at Piper Jaffray with analyst Edward Tenthoff saying the data are "good enough" to file a supplemental new drug application and could drive off-label front-line RCC use. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/16
WELS
10/10/16
UPGRADE
WELS
Outperform
Under Armour upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Tom Nikic upgraded Under Armour to Outperform saying "noise" from the Sports Authority's bankruptcy is fading while distribution expansion could lead to sales reacceleration over the next 12-18 months. The analyst believes Under Armour's growth story is intact heading into 2017 and that its inventory levels are improving. Nikic raised his price target range for the shares to $44-$46 from $38-$42.
10/06/16
ROTH
10/06/16
NO CHANGE
Target $22.5
ROTH
Buy
Under Armour deal should drive MINDBODY platform exposure, says Roth Capital
Roth Capital analyst Darren Aftahi notes that Under Armour (UA) has announced integration of its popular MyFitnessPal application with MINDBODY's (MB) platform. The partnership will enable users to search, book and pay for fitness classes directly on the app, which the analyst believes should be beneficial to MINDBODY's subscribers and its business in general. While it is unclear whether the deal with Under Armour is exclusive, the analyst believes it could open the door for MINDBODY to strike similar deals with other large fitness apparel companies like Nike (NKE) and its Nike+ mobile application. He reiterates a Buy rating and $22.50 price target on MINDBODY's shares.
09/30/16
GUGG
09/30/16
INITIATION
Target $50
GUGG
Buy
Under Armour initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Under Armour with a Buy and a $50 price target as he expects growth in the strong activewear/athletic category to continue and believes a premium multiple is warranted.
NKE Nike
$52.18

0.39 (0.75%)

09/28/16
STFL
09/28/16
NO CHANGE
STFL
Nike Q1 shows some softness but overall outlook positive, says Stifel
After Nike reported higher than expected Q1 EPS, Stifel analyst Jim Duffy says that the company's gross margin guidance was "soft," while its futures were "light." The analyst says that the company is experiencing some difficulties in North America, but he thinks that its results show that its global brand remains strong. Duffy continues to expect the company to benefit from multiple global trends. He keeps a $68 price target and Buy rating on the stock.
09/28/16
BARD
09/28/16
NO CHANGE
Target $67
BARD
Outperform
Nike Q1 'mildly disappointing,' but expectations recently lowered, says Baird
Baird analyst Jonathan Komp called Nike's Q1 earnings report "mildly disappointing," with several puts and takes, but he also believes sentiment on the stock already reflected low expectations heading into the report. The analyst, who sees some reasons to be optimistic about North America and thinks brand strength and innovation can support improvement as the fiscal year moves on, keeps an Outperform rating and $67 price target on Nike shares.
09/30/16
GUGG
09/30/16
INITIATION
GUGG
Buy
Nike initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Nike with a Buy and a $70 price target and believes reacceleration of revenue growth, especially in North America, in 2H17 will serve as a catalyst for the shares.
DKS Dick's Sporting
$57.39

-0.32 (-0.55%)

09/29/16
09/29/16
NO CHANGE

Dick's Sporting initiated with a Sell at Off Wall Street
09/21/16
09/21/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Starbucks (SBUX) initiated with a Buy at Longbow. 2. Boston Beer (SAM) initiated with an Outperform at William Blair. 3. Altria Group (MO) was initiated with a Hold at Jefferies while the firm initiated Reynolds American (RAI) with a Buy. 4. Dick's Sporting (DKS) initiated with a Neutral at Guggenheim. 5. E-Trade (ETFC) reinstated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/16
UBSW
10/04/16
NO CHANGE
Target $66
UBSW
Buy
Dick's Sporting weakness a compelling buying opportunity, says UBS
UBS analyst Michael Lasser noted Dick's Sporting shares have pulled back 9% in the past 11 days and thinks the slide has brought a compelling buying opportunity. The analyst believes Dick's can continue to expand market share as smaller competitors close stores and larger ones, such as The Sports Authority, close their doors. Lasser believes industry consolidation will continue putting stronger players in an even better position. Lasser reiterated his Buy rating and $66 price target on Dicks' Sporting shares.
09/29/16
OPCO
09/29/16
NO CHANGE
OPCO
Outperform
Dick's Sporting weakness a buying opportunity, says Oppenheimer
KSS Kohl's
$45.90

-0.23 (-0.50%)

09/30/16
GUGG
09/30/16
INITIATION
Target $50
GUGG
Buy
Kohl's initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Kohl's with a Buy and a $50 price target. The analyst said shares offer attractive value at current levels given Kohl's focus in returning cash to its shareholders through share repurchases and a ~4.7% dividend yield.
08/03/16
CLVD
08/03/16
NO CHANGE
CLVD
Kohl's sales mixed to slightly softer in July, says Cleveland Research
Cleveland Research said Kohl's sales appear mixed to slightly softer in July with Q2 comps slightly below expectations.
09/14/16
SBSH
09/14/16
UPGRADE
Target $44
SBSH
Buy
Macy's upgraded to Buy from Neutral at Citi
Citi analyst Paul Lejuez upgraded Macy's (M) to Buy saying an attractive free cash flow and dividend yield makes the risk/reward attractive at current levels. While the long term structural challenges to department stores are unlikely to go away, Macy's is "doing the right things for the business," Lejuez tells investors in a research note. He calls the retailer "one of the stronger horses in the race" and sees upcoming quarterly results as potential catalysts. Lejuez keeps a $44 price target for Macy's shares. The analyst points out that Macy's 4.4% dividend yielding 4.4% trails only Kohl's (KSS) and Abercrombie & Fitch (ANF) among the retailers he covers. Macy's closed yesterday down 59c to $34.68.
08/08/16
STFL
08/08/16
NO CHANGE
STFL
Kohl's visits spark worries, says Stifel
After visiting five Kohl's stores, Stifel analyst Richard Jaffe says that the visits have left him concerned about the company's inventories and earnings outlook. According to the analyst, the inventories were larger "and of poorer quality" than he had anticipated. Jaffe thinks that the company will have to sell its spring/summer apparel at a discount, while its sales of national brands could be low as it has cut inventory of those products. However, he keeps a $45 price target and Buy rating on the shares.

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NKE

Nike

$52.10

1.53 (3.03%)

, UA

Under Armour

$27.03

1.62 (6.38%)

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Periodicals
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NKE

Nike

$52.10

1.53 (3.03%)

UA

Under Armour

$27.03

1.62 (6.38%)

ADDYY

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T

AT&T

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