Our analysts are neither perma-bears, nor perma-bulls. What we are is opportunistic and unafraid to change our minds on ideas as the data changes. On that note, Hedgeye Retail analyst Brian McGough is starting to change his mind on Under Armour (UAA).
After being bearish on UAA for a long time, McGough is beginning to see bullish potential in the company’s footwear line. On the other hand, McGough explains it’s going to take something drastic to get the stock out of its current “purgatory.”
“It’s stuck in the low 20’s. It should either be a $35 stock or a $12 dollar stock,” McGough explains in the clip above.
“This stock looks more like Reebok, which was a complete pig. But growth is accelerating. I want to be long [stock] names where growth is accelerating and they’re beating numbers. Under Armour is actually one of them. I’m definitely wavering on this one on the short side.”
Watch the full clip above for more.