Facebook, Under Armour Worth the High Multiples Says Fund Manager

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Facebook, Under Armour Worth the High Multiples Says Fund Manager

Facebook, Under Armour Worth the High Multiples Says Fund Manager
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Facebook, Under Armour Worth the High Multiples Says Fund Manager

by TheStreet 2:28 mins

Facebook's growth in mobile advertising revenue makes the stock entirely worth its high valuation, said Michael Sansoterra, portfolio manager for the RidgeWorth Large Cap Growth Fund. Sansoterra added that Facebook will also benefit from the untapped potential of Instagram. He is also bullish on Under Armour, which he says is taking market share from rivals Nike and Adidas. Sansoterra said Under Armour's penetration of the youth market is creating brand loyalty as well. Finally, Sansoterra is positive on shares of the WhiteWave Foods Company, saying the company is benefiting from the organic and healthy eating trends in the U.S.

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