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Under Armour upgraded to buy by Sterne Agee

 (Image source: ries.typepad.com)

Sterne Agee upgraded Under Armour Inc (NYSE:UA) from buy to hold with a price target of $125 a share. The price target suggests a 20 percent upside. According to Sterne Agee recent pullbacks in the athletic apparel maker’s stock provides a great buying opportunity. In addition, according to the analyst report, in the next three years Under Armour’s international operations will be accountable for 12 percent of total company operations. The international angle would diversify sales.