Under Armour shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $8 to $4.
Portfolio Pulse from Bill Haddad
Under Armour shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $8 to $4.
July 23, 2024 | 10:41 am
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NEGATIVE IMPACT
Morgan Stanley downgraded Under Armour (UA) from Equal-Weight to Underweight and reduced its price target from $8 to $4, causing the stock to trade lower.
The downgrade from a major financial institution like Morgan Stanley and the significant reduction in the price target are likely to negatively impact investor sentiment and lead to a short-term decline in Under Armour's stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley downgraded Under Armour (UAA) from Equal-Weight to Underweight and reduced its price target from $8 to $4, causing the stock to trade lower.
The downgrade from a major financial institution like Morgan Stanley and the significant reduction in the price target are likely to negatively impact investor sentiment and lead to a short-term decline in Under Armour's stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100