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Fly News Breaks for April 9, 2015
NKE, FINL, UA
Apr 9, 2015 | 06:41 EDT
Piper Jaffray analyst Erinn Murphy raised her price target for shares of Under Armour (UA) to $90 from $84 after meeting with Finish Line (FL) management. Murphy found Finish Line management bullish on Under Armour's momentum in footwear, both in basketball and running. She believes Under Armour could make up closer to 10% of Finish Line's sales over time, up from 5%-7% currently, should the momentum continue. Murphy keeps an Overweight rating on Under Armour. The analyst notes that Nike (NKE) currently makes up 70% of Finish Line's sales.
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