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Fly News Breaks for October 26, 2016
UA
Oct 26, 2016 | 05:49 EDT
Deutsche Bank analyst Dave Weiner downgraded Under Armour to Hold after management reduced the company's 2017/2018 revenue growth to low 20% and EBIT growth to mid-teen. The shares are trading at 48 times 2017 earnings estimates, Weiner tells investors in a post-earnings research note. The analyst cut his price target for the shares to $32 from $50. The stock traded down 13% yesterday to $32.89.
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