Analyst Jay Sole from UBS reiterated a Buy rating on Under Armour and increased the price target to $8.00 from $7.50.
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Jay Sole has given his Buy rating due to a combination of factors that indicate a positive outlook for Under Armour’s future performance. The company has made significant strides in building a solid foundation, which is expected to drive future growth. Jay Sole believes that Under Armour’s strategic actions will stabilize its North American business by the end of FY26, setting the stage for growth in FY27. Consequently, he has raised the EPS estimates and the price target to $8.
Key insights from Under Armour’s 2Q report further support this optimistic view. The company’s North American business is gaining momentum, with new products resonating well with consumers and stronger engagement with wholesale partners. Additionally, Under Armour is demonstrating strong cost management, which is expected to lead to better expense leverage once the top-line growth resumes in FY27. These factors contribute to the raised EPS forecasts for FY26 and beyond, underpinning the Buy rating.
In another report released on November 2, Williams Trading also maintained a Buy rating on the stock with a $7.00 price target.