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Under Armour Races Higher Following Bullish JPMorgan Note

Tony Owusu

shares jumped Friday after analysts at JPMorgan upgraded the stock to overweight from neutral and raised their price target to $29 per share from $23. The upgrade comes after analysts met with CEO Kevin Plank and came away from the meeting with the impression that the company's management had a tone of "controlled confidence." The firm also lauded the company's "disciplined" fiscal 2020 earnings and revenue growth acceleration.