Analyst Update: Under Armour Inc, Perrigo Company plc, and Symantec Corporation

Analysts revised their ratings and price targets on Under Armour Inc (NYSE:UA), Perrigo Company plc Ordinary Shares (NYSE:PRGO), and Symantec Corporation (NASDAQ:SYMC)

by Josh Selway

Published on Jun 20, 2016 at 3:17 PM

Analysts are weighing in on apparel concern Under Armour Inc (NYSE:UA), biotech Perrigo Company plc Ordinary Shares (NYSE:PRGO), and software stock Symantec Corporation (NASDAQ:SYMC)Here's a quick roundup of today's brokerage notes on UA, PRGO, and SYMC.

  • UA is on the rise today, adding 2.7% at $38.22, following an upgrade to "buy" from "neutral" at Buckingham Research. The analysts predicted pricing to stabilize in the fourth quarter, which should help profits in fiscal 2017. Still, the stock has dropped 30% since hitting an all-time high of $54.70 back in September. In the meantime, short interest has been rising fast. Specifically, short interest on Under Armour Inc jumped by 30% over the past two reporting periods, and it would now take these bears nine sessions to cover their positions, at average daily volumes. 
  • PRGO is trading 1.3% lower at $96.76, after the company announced an agreement to sell its U.S. vitamins, minerals, and supplements business to International Vitamin Corporation. What's more, Argus Research dropped the stock's rating to a "hold." This is par for the course, though, as 12 of 17 analysts say Perrigo Company plc is a "hold" or "sell." This isn't too surprising, since the shares have fallen 48% since a year ago. 
  • UBS raised its rating on SYMC to "buy" from "sell," and boosted its price target to $24 from $16, saying last week's nearly $5 billion M&A move "reinvigorates Symantec's strategic relevance with enterprises." What's more, RBC last night upped its price target to $24. The stock was last seen 3.1% higher at $20.59, as it continues its hot streak. In fact, Symantec Corporation has picked up 18.6% month-to-date, touching another annual high of $20.96 earlier. More bullish analyst attention could be forthcoming, since just two of the 16 analysts tracking SYMC give it a "buy" or better rating. 

For other stocks in analysts' crosshairs, read Analyst Upgrades: Yelp Inc, Spirit Airlines Incorporated, and MGM Resorts International and Analyst Downgrades: Netflix, Inc., Nike Inc, and SolarCity Corp.


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