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Canaccord Predicts Positive Turn Ahead of Under Armour Inc (UA) Second Quarter Earnings

Canaccord analyst Camilo Lyon weighs in on sportswear giant Under Armour Inc (NYSE:UA) ahead of Tuesday’s July 26 results for UA’s second quarter, reiterating a Buy rating with a price target of $65.00.

For the past two earnings quarters, Under Armour has certainly faced some challenges, with consequent weak revenue reports. But Lyon believes this upcoming second quarter could mean the brink of change for the company, who had to reduce risks at the end of May by pre-announcing earning; in the wake of The Sports Authority declaring bankruptcy.

The analyst noted, “We expect the company to deliver solid 26%+ sales growth while keeping margins in line and...