Jefferies analyst Randal Konik raised his price target for Under Armour (UAA) to $29 and reiterates a Buy rating on the shares. The brand is "strong and still in early innings of global growth," Konik tells investors in a research note. He thinks the stock moves higher from here, driven by upward earnings revisions. Under Armour's fundamentals are "poised to inflect," with sales growth accelerating and margin erosion lessening, supported by "progressively cleaner inventory," Konik writes. He believes high valuation arguments will "go out the window" as margins rebound and international scales.