Under Armour (UAA) - Get Report might be able to meet or beat analysts' expectations for its second quarter earnings because of early order deliveries and boost its lifestyle product initiative by signing rapper A$AP Rocky, Susquehanna analyst Sam Poser said, according to Bloomberg.
A$AP Rocky, who has been linked romantically to model Kendall Jenner and pop artist Iggy Azalea, could successfully build out the Under Armour lifestyle brand as an influencer and provide a "floor for the stock," Poser said. The rapper is reportedly looking at a sneaker line with Under Armour.
Poser raised his price target for Under Armour to $17 from $14 and said earlier-than-expected order deliveries to Famous Footwear (CAL) - Get Report and DSW (DSW) - Get Report could help the company meet or exceed Q2 earnings estimates.
Susquehanna remains negative on the stock based on long-term challenges that will continue as "visibility into a second-half recovery remains low."
Visit here for the latest business headlines.