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Fly News Breaks for July 24, 2019
UA, UAA
Jul 24, 2019 | 07:52 EDT
Morgan Stanley analyst Lauren Cassel said she expects Under Armour to beat expectations in Q2, driven by in-line to slightly better revenue and higher gross margins. However, she also thinks good news appears priced in and suspects investors will be disappointed if the company does not raise the high end of its existing full-year EBIT guidance. Cassel, who still believes a "beat and raise" report could send the stock higher, keeps an Equal Weight rating on Under Armour shares, citing valuation.
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