Under Armour: shares fall after broker downgrade
(CercleFinance.com) - Under Armour shares are down almost 5% on Tuesday after Susquehanna downgraded the sportswear firm, with the analyst saying the brand remains "at risk.
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"Given poor brand distribution decisions, we believe Under Armour risks are becoming more like Reebok than Nike," the US broker warned in a report issued this morning.
"Despite the 30%+ rally in the last 8 weeks, there is no fundamental recovery in sight," Susquehanna added, downgrading the stock from "neutral" to "negative," with a target price of 11 dollars.
The shares are currently down 4.8% at 15.2 dollars after these comments were made.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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"Given poor brand distribution decisions, we believe Under Armour risks are becoming more like Reebok than Nike," the US broker warned in a report issued this morning.
"Despite the 30%+ rally in the last 8 weeks, there is no fundamental recovery in sight," Susquehanna added, downgrading the stock from "neutral" to "negative," with a target price of 11 dollars.
The shares are currently down 4.8% at 15.2 dollars after these comments were made.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.