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Fly News Breaks for March 16, 2018
NKE, UAA, UA
Mar 16, 2018 | 07:54 EDT
Canaccord analyst Camilo Lyon gave five reasons to sell Under Armour (UA;UAA) shares and said the 2018 strategic plan is of great concern to him. Lyon said the off-price clearance is a band-aid; growth without innovation will be slow; its SKU count is being reduced, which will mute growth; consumer polls show its brand footwear growth is waning; and Nike (NKE) appears to be resurging. Lyon reiterated his Sell rating and $9 price target on Under Armour shares.
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UAA, UA, NKE
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