Telsey Advisory lowered the firm’s price target on Under Armour to $8 from $9 and keeps a Market Perform rating on the shares. The firm believes the upcoming Q4 call is “critical” in determining the near-term sentiment for the company, the analyst tells investors. Telsey believes Under Armour needs more merchandising newness, full price stores, better presentation at wholesale, and more effective marketing given the softer consumer backdrop.
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