UAA - Under Armour gains 2% after Cowen tips upcoming earnings beat

Cowen hikes Under Armour ([[UA]], [[UAA]]) to an Outperform rating after having it lined up at Market Perform.The firm thinks consensus estimates on Under Armour are too conservative."Our recent checks suggest improved wholesale sell through at key U.S. wholesale Sporting Goods partners with lean inventory levels. We view implied Q4:20E guidance on revenue and EPS as conservative. We anticipate a recovery in brand momentum that is above consensus estimates into FY22."Shares of Under Armour are up 2.22% premarket.Cowen's confidence in UAA will be put to the test in a few weeks when the U.S. athletic apparel specialist reports earnings.

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Under Armour gains 2% after Cowen tips upcoming earnings beat