Under Armour is up 30% this year, and one expert sees another 30% jump ahead (via tradingnation)
have gained nearly 30% this year, outpacing the broader market's 16% gain.reported first-quarter results
Despite the stock's big run this year, two experts say there's more upside ahead. From a technical standpoint TradingAnalysis.com founder Todd Gordon argues that the stock is in an uptrend and can take out new highs, while Michael Bapis of Vios Advisors at Rockefeller Capital says the apparel company has reignited sales growth, which will lead to continued outperformance.
"We still have a lot of wood to chop around the $25 mark. There's a series of old highs. There are certainly by-stops that are wanting to go off here if we can get up. ... I would be looking to play this as a trade, so above $25 brings you up to $30 and potentially new highs." Under Armour's year-to-date surge notwithstanding, shares are still about 80% from their September 2015 all-time intraday high. Among other things, the company has been plagued by excess inventories and slowing North American sales in the hypercompetitive athletic apparel space.
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