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Actionable news in UA: UNDER ARMOUR Inc,

Under Armour (UA) Stock Price Target Hiked at Canaccord

NEW YORK (TheStreet) -- Under Armour's (UA - Get Report) price target was raised to $130 from $105 at Canaccord on Wednesday.

The firm projects 25% apparel growth in the third quarter, up from 22%, and is increasing its third quarter earnings estimates to 45 cents per share from 42 cents per share.

The sportswear company has experienced strong demand across key retail items and key regions, the firm said in a note.

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There have been indications that Under Armour's improved supply chain this year has led to better on-time delivery rates and product flow, which has helped improve the floor sets at retail, Canaccord adds.

"Overall, we believe Q3 results should be a solid demonstration of the brand's accelerating momentum," Canaccord added.

Shares of Under Armour are lower by 0.75% to $100.52 in pre-market trading.

Separately, TheStreet Ratings team rates UNDER ARMOUR INC as a Buy with a ratings score of...