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Fly News Breaks for June 3, 2016
UA
Jun 3, 2016 | 08:45 EDT
After Under Armour lowered its guidance and took a $23M impairment charge in response to the liquidation of The Sports Authority, DA Davidson says that Under Armour's longer term outlook has not changed. The firm does not think that retailers' weakness reflects badly on Under Armour's outlook, and it is upbeat on the outlook for athletic apparel in 2H16. The firm cut its price target on Under Armour to $48 from $55 but keeps a Buy rating on the shares.
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