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Fly News Breaks for October 14, 2015
NKE, LULU, UA
Oct 14, 2015 | 06:55 EDT
Piper Jaffray analyst Erinn Murphy downgraded Under Armour last night to Neutral from Overweight after her firm surveyed 9,400 teens. While the company is seeing ongoing traction as an upper-income male footwear preference, the survey indicated Under Armour ceded share to lululemon (LULU) and Nike (NKE) in women's athletics, Murphy told investors in a research note. The stock could take a "pause" in the near term as investors digest the recently announced COO/CFO transition and the company's period of heightened investment, the analyst writes. She still "strongly" believes in Under Armour's longer-term opportunity and keeps a $113 price target for shares, however.
News For UA;LULU;NKE From the Last 2 Days
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.