Under Armour could rebound from a difficult year with the help of the latest sneaker launch from superstar NBA player Stephen Curry, one Wall Street firm says.
Jefferies analyst Randal J. Konik, who’s keeping a buy rating on the Baltimore sports apparel maker’s shares, believes the new Curry 4 will be a “resounding success.”
In a report Tuesday, Konik praised Under Armour’s strategy of launching several designs of the Curry 4 in phases and limiting distribution and colors.
“With competitor products aging, we believe Curry 4 will become the No. 1 sneaker in basketball this year, which should also help Under Armour shares rebound,” Konik said.
Under Armour stock...