Rothschild & Co Redburn downgraded Under Armour (UAA) to Neutral from Buy with a price target of $6, down from $7. The firm admits to being too optimistic on the company’s turnaround. External factors for Under Armour have deteriorated with tariff impacts on margins and demand and a slower industry backdrop, the analyst tells investors in a research note. Rothschild says this has pushed back its hopes for an earnings and sales recovery for Under Armour.
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