Shares of Under Armour Inc. gave up early gains Friday, a down day for the market, a day after revealing growth plans and new products that impressed some analysts.
The company, which sells athletic clothing, shoes and accessories at its own stores and other sporting goods stores, told analysts on Thursday about its plans to double 2010 sales, which were at about $1 billion, by 2013.
Under Armour also outlined plans for new products including water-repellent hoodies, according to analysts who attended Thursday’s presentation at the company’s Baltimore headquarters. Under Armour also hopes to expand in women’s clothing with yoga pants and new sports bras.
Under Armour Micro G Supersonic
At last week’s Best of the Best amateur basketball combine sponsored by UA, the 80 participants were treated to pairs of the yet-to-be-released Micro G Supersonic. The last time we heard anything about this shoe was back in March when we covered Under Armour’s 2011 entire basketball lineup. Peep the socks which we also given to participants down in Atlanta last weekend.
The Under Armour Micro G Supersonic is scheduled to hit store shelves September 1, 2011.
Today’s PriceWatch Alerts cover the following stocks: Chevron Corp. (NYSE: CVX), Alcoa, Inc. (NYSE: AA), International Paper Co. (NYSE: IP), Under Armour, Inc. (NYSE: UA), and OpenTable, Inc. (Nasdaq: OPEN).
In today’s unsure markets these brief PriceWatch Alerts contain concise detailed strategies for each covered stock and include position protection tactics designed to potentially defend investors from unexpected market shifts. While other market reports only provide stock news and opinion, we offer strategies that position investments against uncertainty and increase chances of making a profit, even if a stock goes down.
Under Armour, Inc. (UA) Given “Buy” Rating by Bank of America Merrill Lynch Analysts
Equities research analysts at Bank of America Merrill Lynch reiterated a “buy” rating on shares of Under Armour, Inc. (NYSE: UA) in a research note to investors on Tuesday.
Separately, analysts at Longbow Research upgraded shares of Under Armour, Inc. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, June 3rd. They now have a $82.00 price target on the stock. Also, analysts at Citigroup (NYSE: C) upgraded shares of Under Armour, Inc. from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, May 18th. They now have a $78.00 price target on the stock, up previously from $74.00.
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