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Fly News Breaks for October 25, 2016
UA
Oct 25, 2016 | 10:11 EDT
Jefferies analyst Randal Konik lowered his price target for Under Armour to $34 following the company's Q3 results. Promotions are rising, which suggests sell-through is slowing, and the stock's valuation is still the highest among peers, Konik tells investors in a post-earnings research note partially titled, "LISTEN UP!!! Clouds Forming Over Baltimore." The analyst sees "mounting" evidence that the athletic apparel cycle is declining as denim rises. Konik keeps a Hold rating on Under Armour. The stock is down 13% to $32.88 in early trading.
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