Analyst boosts Under Armour rating to 'Outperform'

Credit Suisse analyst raises rating for Under Armour to 'Outperform,' predicts growth in 2013

Associated Press

NEW YORK (AP) -- A Credit Suisse analyst on Friday raised his rating for Under Armour Inc. to "Outperform" from "Neutral," saying that the company remains poised for growth.

THE OPINION: Christian Buss, who also boosted his price target by $2 to $59, said that this year the athletic clothing maker should benefit from an expanded sales presence, a favorable sourcing environment and recent investments in its supply chain and sourcing staff.

In addition, the company's long-term growth targets will likely be validated at its analyst meeting midway through the year, while it also should benefit from easy profitability comparisons in the second half of the year, Buss said.

THE SHARES: Down 4 cents to $49.62 in afternoon trading. Over the past 52 weeks, the company's shares have traded between $35.13 and $60.96. During 2012, Under Armour shares rose about 35 percent.

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