Under Armour's Turnaround May Take Time; Investors Should Wait For 'Clearer Signals,' Says Analyst
Portfolio Pulse from Priya Nigam
Under Armour (NYSE:UAA) reported a revenue decline for Q4 and received a downgrade from JPMorgan. Oppenheimer's analyst Brian Nagel downgraded UAA from Outperform to Perform, citing the need for clearer signals of improving fundamentals. Management's restructuring plan aims to streamline operations, but significant new products won't hit the market until Fall/Winter 2025. Shares declined by 2.52% to $6.78.
May 23, 2024 | 4:25 pm
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Under Armour reported a Q4 revenue decline and received a downgrade from JPMorgan. Oppenheimer's analyst downgraded UAA from Outperform to Perform, advising investors to wait for clearer signals of improvement. Management's restructuring plan aims to streamline operations, but significant new products won't be available until Fall/Winter 2025. Shares declined by 2.52% to $6.78.
The downgrade from both JPMorgan and Oppenheimer, coupled with a revenue decline and delayed product launches, suggests a negative short-term outlook for Under Armour. Investors are advised to wait for clearer signs of improvement.
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