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Under Armour’s Turnaround May Take Time; Investors Should Wait For ‘Clearer Signals,’ Says Analyst

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Under Armour Inc (NYSE:UAA) last week reported a revenue decline for the fourth quarter and received a downgrade from JPMorgan.

Positive change at the company could take time and investors should remain on the sidelines until there are “clearer signals of improving fundamental momentum,” according to Oppenheimer.

The Under Armour Analyst: Brian Nagel downgraded the rating for Under Armour from Outperform to Perform.

The Under Armour Thesis: Management’s new restructuring plan aims at streamlining the company’s operating model, Nagel said in …

Full story available on Benzinga.com

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