Under Armour price target lowered to $7 from $8 at Truist

Truist lowered the firm’s price target on Under Armour to $7 from $8 and keeps a Hold rating on the shares. The company has announced “aggressive turnaround efforts” over the next 18 months, which are expected to drive low-double-digit revenue decline and a 5% decline in adjusted earnings in FY25, though the management is planning to reinvigorate brand heat by reprioritizing product and marketing efforts on core athlete needs, the analyst tells investors in a research note. This reset can be successful but it also comes with substantial risks and will require strong execution across the board, the firm added.