Under Armour price target lowered to $5 from $6 at JPMorgan

JPMorgan lowered the firm’s price target on Under Armour (UA) (UAA) to $5 from $6 and keeps an Underweight rating on the shares. The company reported “mixed” Q1 results and management guided to Q2 adjusted EPS “materially below” the Street view on revenues expected to be down 6%-7% year-over-year, the analyst tells investors. The firm sees Under Armour lagging peers in terms of product innovation and newness, profitability and DTC infrastructure, the analyst noted.