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Fly News Breaks for April 2, 2018
UA, UAA
Apr 2, 2018 | 09:34 EDT
Stifel analyst Jim Duffy notes that Under Armour shares traded down following disclosure of a data security compromise on the digital fitness platform app, MyFitnessPal, but points out that the breach did not touch credit card data or government ID information. While bad PR, history suggests brand name company victims of large scale data breaches experience little lasting effect, he contends. Given that financial data was not exposed, Duffy expects the associated expenses will not be of great significance. The analyst reiterates a Buy rating and $18 price target on the shares.
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