Under Armour price target raised to $8.50 from $8 at Wedbush

Wedbush analyst Tom Nikic raised the firm’s price target on Under Armour to $8.50 from $8 and keeps an Outperform rating on the shares. On an absolute basis, the company’s Q1 results “weren’t great,” but they did beat guidance by a healthy margin, the analyst tells investors. The firm believes the risk/reward is skewed favorably if the company can execute on a turnaround and believes FY25 guidance is adequately conservative.