Top Stories
Top Stories

Buy Under Armour on growing shoe popularity with teens, Piper Jaffray says

The Under Armour logo is displayed at T & B Sports in San Rafael, California.
Getty Images

Piper Jaffray raised its rating on Under Armour shares to overweight from neutral, citing the prospect of improving sales after the firm's proprietary survey of teen consumers.

"Survey supports UA traction in apparel & footwear. ... We are raising our [valuation] multiple ... on the belief that UA shares are poised for re-accelerated global growth," analyst Erinn Murphy wrote in a note to clients Thursday.

"Importantly, UA did not guide its 2H to assume a 'cold winter.' Should cold weather materialize, we see upside to the top-line."