UAA - Under Armour is called out by Wells Fargo for 50% upside as turnaround plays out

Wells Fargo picks up coverage again on Under Armour (NYSE:UAA) with an Overweight rating and price target of $33. The firm thinks UA's turnaround story as being on firmer footing headed into 2022 due to category tailwinds and company specific efforts to drive profitable top-line gains. "Following 2021's strong top-line and GM gains, we see UA's margin expansion into FY22 as stickier between merchandise margin gains and opex leverage go forward. With the turnaround still in the middle innings, we believe the stock can continue to ride higher as the brand makes headway on its medium term 10% margin target and beyond." The Seeking Alpha Quant Rating on UAA has been a pretty good leading indicator of which direction the share price is going over the last five years.

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Under Armour is called out by Wells Fargo for 50% upside as turnaround plays out