Morgan Stanley downgraded its rating of Under Armour (NYSE:UAA) to Equal-Weight with a price target of $11.00, changing its price target from $14.00 to $11.00.
Shares of Under Armour are trading down 10.19% over the last 24 hours, at $9.46 per share.
A move to $11.00 would account for a 16.32% increase from the current share price.
About Under Armour
Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories. Consumers of its apparel include professional and amateur athletes, sponsored college and professional teams, and people with active lifestyles. The company sells merchandise through wholesale and direct-to-consumer channels, including e-commerce and more than 400 total global factory house and brand house stores. Under Armour also operates a digital fitness app called MapMyFitness. The Baltimore-based company was founded in 1996.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
