UAA - Under Armour gains after Argus upgrade buyback boost

Argus turned constructive on Under Armour (UAA +2.8%) with an upgrade to Buy from Neutral on the expectation that the athletic apparel giant will overcome near-term challenges and that the recent pullback in the shares offers investors a favorable entry point. Analyst Kristina Ruggeri: "UAA has improved results by closely managing inventory, avoiding product discounting, focusing on premium products, and boosting direct-to-consumer sales. It has also strengthened marketing and implemented a restructuring program to lower costs." Argus assigned a price target of $19 to Under Armour (NYSE:UAA). Yesterday: Under Armour announces $500M share repurchase program.

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Under Armour gains after Argus upgrade, buyback boost