Under Armour price target lowered to $9 from $11 at Truist

Truist lowered the firm’s price target on Under Armour (UAA) to $9 from $11 and keeps a Hold rating on the shares. The company reported Q3 earnings beat, but while the firm is encouraged by Under Armour’s turnaround progress, visibility into structural brand/product improvements remains limited, APAC trends have softened, and near-term flow-through potential appears likely limited due to heavy brand investments, the analyst tells investors in a research note.