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Fly News Breaks for October 23, 2019
UA, UAA
Oct 23, 2019 | 06:22 EDT
Citi analyst Paul Lejuez views the announcement that President and COO Patrik Frisk will replace Kevin Plank as Under Armour CEO, effective January 1, as a positive for the story. Frisk has been pivotal in helping the organization "grow up" by focusing more on profitability, Lejuez tells investors in a research note. He believes investors are getting the "best of both worlds," with Frisk in charge of the day-to- day and Plank still playing an important role as the face of the brand. Lejuez keeps a Buy rating on Under Armour shares.