Morgan Stanley analyst Alex Straton raised the firm’s price target on Under Armour to $10 from $8 and keeps an Equal Weight rating on the shares. While acknowledging that Q3 earnings beat expectations, the "print was lower quality when unpacked" and fundamentals remain challenged, the analyst tells investors. EMEA and footwear stand out as bright spots, but cautious call commentary suggests that headwinds will continue in the near-term, the firm added.
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Published first on TheFly
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