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Fly News Breaks for July 10, 2018
UA, UAA
Jul 10, 2018 | 07:08 EDT
In a research note titled "We Can Smell What Plank Is Cooking," Barclays analyst Matthew McClintock says Under Armour (UAA) appears well positioned to meet or exceed guidance for Q2. The analyst, however, questions if that is enough to make the stock work with the shares up 54% year-to-date. Even if Under Armour beats, the recent stock price appreciation likely limits upside in the stock from here, McClintock tells investors. He believes the company is more than halfway through its turnaround plan "with an inflection on the horizon." The analyst also believes that its guidance sets up for easy compares in the back-half of the year. McClintock has an Overweight rating on Under Armour with a $20 price target, below the stock's current levels.