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Fly News Breaks for March 23, 2015
UA
Mar 23, 2015 | 08:12 EDT
FBR Capital estimates Under Armour's Latin American revenue could reach $400M by 2018, or 5% of total sales. The firm surveyed consumers in Brazil and found that 40% had heard of the brand, which it views as encouraging since Under Armour has only been active in the country for about a year. FBR believes Latin American growth will significantly drive upside to revenue expectations over the next several years and raised its price target for Under Armour shares to $90 from $86. It keeps an Outperform rating on the name.
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