Under Armour rallies after Citi points to more than 50% upside
Seeking Alpha2022-01-21
Under Armour (NYSE:UAA) trades higher after Citi turns constructive on the upside with an upgrade to a Buy rating from Neutral.
Analyst Paul Lejuez and team call UAA an attractive play in the athletic wear space that is hitting its stride in the EMEA and APAC regions.
"UAA is emerging from the pandemic in a much stronger position in North America with inventory clean, distribution rationalized, the brand identity more clearly defined, and with its product assortment in good shape."
Looking ahead, Citi sees more more room for UAA" EBIT margin to improve. A price target of $29 is set on the athletic apparel stock
Shares of Under Armour (UAA) are up 1.35% premarket to $18.87.
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