Goldman Sachs analyst Alexandra Walvis downgraded Under Armour to Buy from Conviction Buy with a price target of $26, down from $33. The stock fell 18% yesterday as weak commentary on guided sales growth and the disclosure of a probe by Federal authorities relating to the company's accounting practices more than offset a stronger Q3 print, Walvis tells investors in a research note. While there is "quarterly choppiness in the turnaround story," Under Armour remains "on the path to recovery," contends Walvis. As such, she came away from the Q3 results with her long-term thesis intact. However, with details regarding the accounting probe limited, the analyst no longer sees Under Armour as one of her best ideas.