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Fly News Breaks for January 26, 2016
UA
Jan 26, 2016 | 07:00 EDT
Piper Jaffray analyst Erinn Murphy lowered her price target for shares of Under Armour to $64 ahead of the company's Q4 results on Thursday. The analyst remains cautious on the stock near-term given concerns over valuation, footwear inventory in the channel, challenges with partner Sports Authority and the warmer winter season. While the stock is down 36% from the highs, rich multiple stocks are not "finding their footing on less-than-pristine reports," Murphy tells investors in a pre-earnings research note. She keeps a Neutral rating on Under Armour.
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