Downgrade on Under Armour sounds more like long-term Buy call

|About: Under Armour, Inc. (UA)|By:, SA News Editor

Shares of Under Armour (UA) are lower in early action after Sterne Agee comes in with a downgrade on the high-flier.

The investment firm pulls back to Neutral from Buy on a valuation call.

The long-term outlook on the stock looks very favorable to Sterne with the company showing strength in growing categories. Sterne sets a 2017 PT of $170 on Under Armour showing its faith that investors that buy on the dips will be amply rewarded.

UA -1.3% premarket to $120.40.