- Shares of Under Armour (UA, UAA) are on watch after a new note from Wells Fargo (NYSE:WFC) gives investors something to be optimistic about.
- Wells says the new Curry 4 basketball shoe is catching "very positive" social media attention and could recharge the Curry brand.
- Golden State Warriors guard Stephen Curry is wearing the new line at the NBA Finals (game 3 tonight), but the Curry 4s don't hit the open market until the fall. Pricing for the shoes hasn't been set yet.
- Though WF is still cautious on Under Armour in the near term with a Market Perform rating due to the strong guidance already issued by the company, a thriving debut of the Curry 4s could reset expectations for Q4 and 2018.
- Separate from the Wells note, a quick scan of a Google (NASDAQ:GOOGL) Trends chart on "Curry 4" also looks promising.
- Sources: Bloomberg and ESPN.
- UAA +0.40% premarket to $20.30.
- Now read: Under Armour - It's Not Time To Be Bullish
Original article