Under Armour's investments should support brand equity despite the pressure on margins.
We believe Under Armour’s fourth-quarter results support our view that the market was discounting the company’s intangible-asset-driven narrow moat, and despite the midteen jump in shares, we continue to see them as undervalued, trading at a discount to our $19.50 fair value estimate that we plan to increase by a low-single-digit percentage (split between a time value of money benefit and the impact of recently enacted tax reform, which will slightly lower our tax rate).We are encouraged that U...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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