As reported previously, Stifel analyst Jim Duffy downgraded Under Armour to Hold from Buy said along with its Q3 earnings call this morning that it expects 2017 and 2018 EBIT growth to be in the mid-teens. "Prevailing expectations" had been for better than 30% EBIT growth for 2017, noted Duffy, who said heightened investment in infrastructure and sports marketing are resulting in margin compression. The implied 2018 EBIT is more than $200M below the previous 2018 target of $800M issued at the Sept. 2015 investor day meeting, adds Duffy, who cut his price target on Under Armour shares to $33 from $53.