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Fly News Breaks for June 1, 2016
UA
Jun 1, 2016 | 08:15 EDT
Cowen lowered its price target on Under Armour to $42 from $51 after the company cut its guidance due to impairment charges caused by the Sports Authority bankruptcy. The firm believes Street estimates will have to come down and acknowledged there is uncertainty into the back half of the year, noting that the company's guidance was already second half weighted. Cowen maintained its Outperform rating on Under Armour shares.
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