Jefferies reiterated its purchase ranking on Under Armour, citing much better social media info trends, which position to growing buyer brand name sentiment.
Under Armour shares are down 34 percent this yr by means of Tuesday, with most of the drop occurring after the company gave weaker-than-envisioned 2017 income assistance on its Jan. 31 fourth-quarter earnings report. The shares are also down 55 percent in the prior 12 months.
“Our info examination signifies a bottom forming in the social sphere for UA. The perform reveals the social share gains at Adidas in ’16 have peaked and supplies evidence that UA’s sponsorship technique is lifting brand name warmth,” analyst Randal Konik wrote in a notice to clientele Wednesday. “Taken together with our perform that athletic trends are healthier, the UA brand name is powerful, and its world advancement possibility significant, now is the time to purchase UAA.”