Fly News Breaks for January 12, 2016
UA
Jan 12, 2016 | 07:03 EDT
After yesterday's close, SunTrust analyst Pamela Quintiliano attributed yesterday's pullback in Under Armour (UA) shares to Morgan Stanley's downgrade of the stock, which was driven in part by SportsScan data pointing to market shares losses for the sports apparel maker. However, Quintiliano noted that SportsScan data does not account for over 60% of sales in the holiday quarter, and does not include international sales or those from retailer's Dick's (DKS) and Foot Locker (FL). The analyst, who also said Under Armour's promotions were well-controlled throughout the fourth quarter, is confident in the company's ability to meet its guidance and keeps a Buy rating and $110 price target on the stock.
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