Fly News Breaks for April 10, 2019
Apr 10, 2019 | 07:36 EDT
Citi analyst Paul Lejuez assumed coverage of Under Armour (UAA) from Kate McShane and upgraded the shares to Buy from Neutral. He raised his price target for the stock to $29 from $23. Under Armour is "growing up" with a renewed focus on driving profitability and return on invested capital, Lejuez tells investors in a research note. With just a 3.4% EBIT margin in 2018, the company has the opportunity to recapture 600 basis points in EBIT margin over the next several years, says the analyst. And near-term, Lejuez sees upside to management's fiscal 2019 gross margin guidance.
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