Deutsche Bank Upgrades Under Armour On International Outlook

Investing.com - Deutsche Bank (DE:DBKGn) has upgraded Under Armour and raised its stock price target.The Wall Street firm upped the athletic apparel maker from sell to hold, while lifting its 12-month forecast from $13 to $16 a share. Deutsche said Under Armour's rapidly growing international business could offset slow North American sales. The firm singled out China as a growth market because the government there is making new investments in physical education, sports leagues and athletic facilities. Deutsche also cited Under Armour's successful introduction of new products and cost reduction efforts. Shares are down 18% in the past 12 months.