UAA - Under Armour stock gains after investor meeting impresses

Oppenheimer issues positive comments on Under Armour (UAA +2.3%) after the athletic apparel company met with investors virtually to discuss recent trends and underlying strategic initiatives. Key takeaways from the event were that UAA management attributes strengthening trends lately to internal initiatives and that the company is managing inventory much better now. Senior leadership is said to be focused upon gradually expanding the size of UAA's still small fleet of stores to enhance further its direct- to-consumer capabilities. Oppenheimer analyst Brian Nagel: "In our view, at current depressed levels, shares of UAA underappreciate meaningfully near- and longer-term prospects for the still up-and-coming brand." Oppenheimer keeps an Outperform rating on UAA and price target of $34. The relative strength index on UAA is on the rise again.

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Under Armour stock gains after investor meeting impresses