Why Under Armour stock fell 7% on Tuesday By Investing.com

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<span>© Reuters Why Under Armour (UAA) stock fell 7% on Tuesday</span><br />
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<p>Under Armour (NYSE:) (UAA) stock experienced a decline of almost 7% on Tuesday, the most since December 22, following JPMorgan’s placement of the sportswear company on negative catalyst watch. </p>
<p>Analysts at JPMorgan, who rate UAA with a Neutral rating and a $8 per share price target, expressed concerns about downside risks to sales and profit estimates for the second half of fiscal 2024.</p>
<p>They highlighted steeper discounts during Black Friday, Cyber Monday, and the January semi-annual sale in North America, coupled with management’s caution signals in Asia and Europe. </p>
<p>In contrast, <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Foot Locker </span></span> </span></span> (NYSE:) is expected to surpass consensus 4Q profit and same-store sales estimates, with 2024 expectations below consensus, anticipating challenging comparisons after promotional support in 2023. </p>
<p>FL stock is rated as Underweight at JPM with the PT raised to $26 from the prior $17.</p>
<p>The stock dropped 5.5% on Tuesday.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/why-under-armour-stock-fell-7-on-tuesday-432SI-3275528">Source link </a></p><p>The post <a href="https://forextraderhub.com/why-under-armour-stock-fell-7-on-tuesday-by-investing-com.html">Why Under Armour stock fell 7% on Tuesday By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>