Sterne Agee CRT Reiterates Buy on Under Armour (UA) Following Investor Day

Sterne Agee CRT reiterated a Buy rating and $120.00 price target on Under Armour, Inc. (NYSE: UA) following the company's investor day. Management laid out the company's top- and bottom-line growth plans. Revenue CAGR of 25% is broad based, with the strongest growth coming from the international, footwear, DTC, and women's businesses.

Analyst Sam Poser commented, "Reiterate Buy. UA continues to be our #1 pick for long-term growth investors. UA's Investor Day was very informative, as management laid out the company's top- and bottom-line growth plans. Revenue CAGR of 25% (2014-2018) is broad based, with the strongest growth coming from the international, footwear, DTC, and women's businesses. 2018 operating margin target of $800M equates to a 23% CAGR. Needed investments in marketing and infrastructure are accelerating to support the brand and its growth. The brand remains sacrosanct, and the company continues to focus on its athletes/customers. The acquisitions of new digital platforms and ongoing innovation will continue to enhance the Under Armour brand's relationship with athletes."

For an analyst ratings summary and ratings history on Under Armour, Inc. click here. For more ratings news on Under Armour, Inc. click here.

Shares of Under Armour, Inc. closed at $103.36 yesterday.

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