JPMorgan placed Under Armour (UAA) on “Negative Catalyst Watch” while keeping a Neutral rating on the shares with an $8 price target. The analyst sees potential risk to second half of 2024 estimates after the firm’s promo tracker in North America observed increased depth over Black Friday and Cyber Monday and during the January semi-annual sale. The firm also reduced fiscal 2025 estimates to account for ongoing wholesale reorder challenges in North America extending into Europe, the Middle East and Africa.
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