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Fly News Breaks for July 24, 2018
UA, UAA
Jul 24, 2018 | 06:51 EDT
Deutsche Bank analyst Paul Trussell says he has a negative bias on Under Armour with the stock up 44% year-to-date. He maintains a Hold rating on the shares with a $16 price target. The most pressing concerns into the Q2 results are inventory levels and the company's ability to maintain gross profit margin guidance for the full year, Trussell tells investors in a pre-earnings research note. The analyst views Under Armour's valuation as expensive at current share levels.
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