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Barclays reshuffles U.S. apparel retailers, cuts Under Armour, Gap ratings
['Vahid Karaahmetovic', 'Tue', 'August At Pm Gmt', 'Min Read']
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Analyst Adrienne Yih downgraded Under Armour to Underweight from Equal Weight, citing "delayed brand recovery," a competitive athletic sector, and "macro-related consumer malaise."
She kept the price target unchanged at $5, implying nearly 15% downside.
Gap was downgraded to Equal Weight from Overweight, with Barclays lowering its price target to $20 from $26.
Abercrombie & Fitch was the lone upgrade, moving to Equal Weight from Underweight, with Yih raising the price target to $114 from $78.
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