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MarketWatch MarketPulseDec 15, 2017
Under Armour's stock soars after analyst turns bullish, boosts price target
Shares of Under Armour Inc. soared 8.3% in morning trade Friday toward a 1 1/2-month high, after the athletic apparel and accessories maker was upgraded at Stifel Nicolaus, citing signs that margins are set to improve next year. Analyst Jim Duffy raised his rating to buy, after being at hold the past 14 months, and boosted his stock price target to $17 from $12. He said that while margins may remained pressured in the first half of 2018 given inventory clearance, but he believes investors are starting to see the light at the end of the tunnel. 'With evidence of improving sales quality and cost structure management, we expect the stock begins to anticipated structural capacity for margin improvement before it shows in reported results,' Duffy wrote in a note to clients. The stock has now rocketed 29% since it closed at a 5 1/2-year low of $11.61 on Nov. 3. It was still down 49% year to date, while shares of rival Nike Inc. have run up 28% and the Dow Jones Industrial Average has climbed 25%.

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