How Under Armour Became the 'It' Brand of Athletic Apparel
Under Armor, known for its athletic apparel, caught an upgrade from Jefferies, which raised its stock rating to a "Buy," citing superior growth and long term revenue potential.
Shares of Under Armor soared higher on Wednesday making it TheStreet's Move of the Day. The company known for its athletic apparel caught an upgrade from Jefferies, which raised its stock rating to a "Buy," citing superior growth and long term revenue potential. Jefferies lifted its price target to $65 a share from the prior $50 a share. Jefferies said it had five key reasons for the upgrade, which included the opinion of the phenomenon that athletic apparel sales outperform the total apparel market, that Under Armour is the "IT" brand for today's youth, the brand is gaining serious momentum with women, the revenue build looks enormous and, finally, upside reward outweighs risk.
