Under Armour (NYSE:UA) Wholesale Apparel Revenues declined from around $2.4 billion in 2019 to about $2 billion in 2020. Trefis expects the metric to rise to around $2.6 billion in 2021 and to around $2.66 billion in 2022.
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While the decline in 2020 was due to the impact of the Covid-19 pandemic, we expect longer-term growth to be driven by the introduction of new and innovative products and the company’s international expansion.
We think Under Armour stock is undervalued at current levels. We value UA stock at about $21 per share, about 25% ahead of the current market price.
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|S&P 500 Return||-3%||-3%||106%|
|Trefis MS Portfolio Return||-9%||-9%||256%|
 Month-to-date and year-to-date as of 1/19/2022
 Cumulative total returns since the end of 2016