UAA - Under Armour rallies after Barclays calls out inflection point for stock

Barclays takes a more constructive view on Under Armour ([[UAA]], [[UA]]) as it upgrades the stock to an Overweight rating from Equal Weight.The firm notes a significant positive inventory inflection for UA and sees a return to high-quality sales growth in North America.The opportunity for multiyear operating margin expansion from current levels is also called out as the company's revenue growth leverages the fixed cost infrastructure.Analyst Adrienne Yih: "We believe that with much of the heavy lifting completed in terms of right-sizing inventory and exiting undifferentiated/off-price doors, the company is positioned to focus on full-price brand rebuilding from a much healthier base. By driving growth in the DTC channel, UAA has more control over the consumer brand perception, coupled with the analytics to drive stronger product innovation and higher ROI marketing spend. With the accelerated shift to e-commerce, the increased focus on health and wellness, and a return to athletics for

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Under Armour rallies after Barclays calls out inflection point for stock