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Fly News Breaks for March 31, 2015
NKE, ADDYY, UA
Mar 31, 2015 | 06:25 EDT
Citigroup analyst Kate McShane says her survey of independent retailers in Europe indicated Under Armour (UA) is now the number two selling brand in Europe behind Nike (NKE) in Q1, putting it just ahead of adidas (ADDYY) on its home turf. She notes 63% of the retailers it surveyed believe Under Armour is taking market share. McShane reiterates a Buy rating on the performance apparel maker with an $88 price target. She believes the company's international opportunity is "greater than ever." The stock closed yesterday up 21c to $79.91.
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