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Rare Wall Street bull defends Under Armour

Sep. 09, 2020 1:08 PM ETUnder Armour, Inc. (UAA) StockUAABy: Clark Schultz, SA News Editor2 Comments
  • Raymond James is still confident Under Armour (UAA -3.4%) after the company expanded on its restructuring plan and said it would lay off about 600 employees globally.
  • Analyst Matthew McClintock says the firm is keeping a Strong Buy rating on Under Armour and $15 price target even after the "difficult" and "prudent" restructuring actions.
  • Only four out of 34 Wall Street analysts covering the stock have a Buy-equivalent rating on Under Armour.
  • In a bearish article out earlier this week, Seeking Alpha author Value Kicker said the company is not reaping the necessary benefit from its marketing spend and thus has much lower EBIT margins than its peers. The company is still valued like a "growth stock" when it should be valued like a "turnaround," according to Value Kicker.

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