Under Armour (UA) was the best performing stock in the S&P 500 Friday. Shares rose after the analysts at DA Davidson upgraded the stock to BUY from NEUTRAL, with a price target of $91 per share, pointing to the potential for higher earnings down the road. Now during the first quarter, sales rose 25 percent year-over-year to $805 million, according to an earnings release in April, and was negatively affected by foreign exchange headwinds, most notably the strengthening dollar. The athletic clothing maker also upped its 2015 guidance and expects revenue of $3.78 billion, an increase of 23 percent from last year. In a segment on CNBC, TheStreet’s Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, said investors might be tired of the stock’s lackluster performance since April, but they should not give up on Under Armour or its CEO Kevin Plank. He said the company’s move to sponsor Stephen Curry is showing dividends, as the basketball player was crowned Most Valuable Player in the National Basketball Association. At $81.94 per share, the stock is trading at about 85 times greater than its pre-share earnings last year, according to data compiled by Bloomberg. Shares have risen over 20 percent since the start of the year. TheStreet’s Scott Gamm reports from New York.
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