Under Armour initiated with an In Line at Evercore ISI

Evercore ISI initiated coverage of Under Armour (UAA) with an In Line rating and $8 price target. The analyst believes the company has done a good job setting expectations low and consistently framing fiscal 2024 as a reset year. For the stock to work, Under Armour needs better evidence that North America can return to consistent growth, the analyst tells investors in a research note.