Is Under Armour About to Blast 37% Higher Following Earnings?

On Friday, Randal J. Konik of Jefferies lifted his price target on Under Armour (NYSE: UA) to $13 from his previous $11. He maintained his buy rating while doing so. The new target represents 37% upside to the athletic apparel maker's latest closing stock price.

The uptick comes on the same day Under Armour reported its Q2 of fiscal 2020 results. These would have been considered disastrous if it weren't for the coronavirus pandemic, which has caused significant economic damage to many business sectors (particularly retail). Under Armour's revenue fell 41% on a year-over-year basis, while GAAP net loss deepened by a factor of more than 10.

That performance, however, was well better than expected by analysts -- revenue was far higher than their average estimate, and per-share net loss on a non-GAAP (adjusted) basis considerably narrower.

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Source Fool.com