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Under Armour: Too Rich to Chase

Under Armour (UAA) has soared more than 50% since the start of the year, although the stock is coming off a dismal 50% decline in 2017, and still remains somewhat unloved by investors. Cowen & Co.'s John Kernan thinks that investors are right not to chase the shares. Kernan writes that Under Armour's domestic and international sales are recovering, which has been a critical part of the bull narrative on the stock.