Fly News Breaks for February 12, 2020
Feb 12, 2020 | 05:01 EDT
Stifel analyst Jim Duffy lowered his price target for Under Armour to $20 from $27 saying yesterday's "disappointing" fiscal 2020 guidance overshadows the company's ongoing operational progress and balance sheet improvement. Under Armour's revenue inflection in North America is "proving elusive" and resulting SG&A deleverage will weigh heavily on its profitability, Duffy tells investors in a post-earnings research note. However, he believes Under Armour's brand equity is firming and strategically, the analyst supports its commitment to quality of sales and increased full-price selling. North America revenue can "rebase in 2020 to establish a foundation for growth, says Duffy, who keeps a Buy rating on Under Armour.
News For UAA;UA From the Last 2 Days
May 28, 2020 | 08:03 EDT
Under Armour reopened its first U.S. stores to customers on May 15, and opened additional stores last week. By this Friday, Under Armour will have reopened nearly 50% of its North America stores, under health and safety protocols.