Under Armour price target lowered to $7 from $8 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Under Armour to $7 from $8 and keeps a Market Perform rating on the shares. During the company’s earnings call back, CEO Kevin Plank assessed the company’s performance and the firm believes the company is “finally” making aggressive moves to return to a premium apparel brand, the analyst tells investors. The path involves reducing SKU count by 25% over the next 18 months, sitewide promotional days by 50% in FY25, and reducing costs through layoffs and less usage of consultants, the firm adds. Telsey believes progress will be gradual and likely not visible until FY26.