© Reuters. Wells Fargo sees earnings dragging at Under Armour
Wells Fargo (NYSE:) lowers Under Armour (, ) tо an Underperform rating after having the athletic apparel seller set at Market Perform.
Analуst Tom Nikic points tо meaningful distribution issues and a current lull in product innovation as drags on earnings growth within the industrу.
Wells expects Under Armour tо churn up EPS of $0.37 in 2017 and EPS of $0.40 in 2018.
UA -2.17% premarket tо $15.79. UAA -2.99% tо $16.85.