Under Armour Assigned Hold as Stifel Cuts 2026 Forecasts 5%
Stifel reduced its fiscal 2026 revenue forecast for Under Armour by roughly 5% and cut its EPS estimate by 7%, citing persistent inventory overhang and slower cost savings. The firm also lowered its price target to $15 and downgraded the stock to Hold, projecting margin improvement now in 2027.
1. Forecast Revisions
Stifel trimmed its 2026 revenue outlook for Under Armour by approximately 5% and slashed its earnings per share estimate by 7%. The brokerage also lowered its price target from $18 to $15 and shifted its rating from Buy to Hold, reflecting more conservative near-term expectations.
2. Turnaround Delays
Analysts pointed to a persistent inventory glut in North America and Europe that has hindered revenue growth and pressured margins. Stifel now anticipates Under Armour’s gross margin expansion will be delayed into 2027 as the company works through excess stock and implements cost-reduction initiatives.