Goldman says purchase the Below Armour dip: ‘Lengthy-term thesis intact’

Goldman Sachs is sticking with its purchase ranking on Under Armour, even after shares plunged following disappointing quarterly replace and the revelation of a federal investigation into the attire maker.

“We come away from outcomes with our long-term thesis intact,” Goldman Sachs analyst Alexandra Walvis wrote in a observe to buyers. The agency eliminated the inventory from its checklist of favourite shares, however maintained a purchase ranking.

Below Armour delivered third-quarter results that beat Wall Avenue’s expectations on the highest and backside traces. However Below Armour reduce its 2019 income forecast, whereas additionally confirming that the Securities and Alternate Fee and Justice Division are trying into whether the company used bad accounting practices to make its finances look healthier.