Wells Fargo analyst Tom Nikic resumed coverage of Under Armour (UA) with a Market Perform rating and $38-$42 price target range. The rating is unchanged from Wells' prior coverage. The company's "strongest in our space" growth prospects are fully baked in at current valuation levels, Nikic tells investors in a research note. The company is more popular in Baltimore than Cal Ripken and The Wire, the analyst quips. Nikic also resumed coverage of Nike (NKE) this morning with a Market Perform rating, a downgrade from his firm's previous rating of Outperform.