Under Armour price target lowered to $6 from $7 at Wells Fargo

Wells Fargo analyst Will Gaertner lowered the firm’s price target on Under Armour to $6 from $7 and keeps an Equal Weight rating on the shares following the company’s Q4 earnings results. While the results were relatively in-line with expectations, the firm sees the stock remaining range bound due to the announcement of the second restructuring plan in four years, in another attempt to “reinvigorate the struggling UA brand.”