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Morgan Stanley: Stephen Curry Is the Key Risk to Our Bearish Call on Under Armour

An analyst's—and defender's—worst nightmare.

An analyst'sand defender'sworst nightmare.

Photographer: David Liam Kyle/NBAE via Getty Images

Basketball's hottest star could single-handedly save shares of Under Armour Inc. from a dramatic decline, in the view of Morgan Stanley Analyst Jay Sole.

Among analysts tracked by Bloomberg, Sole is the only one with an "underperform" rating on shares of Under Armour. His target price is $64, which represents a downside of roughly 24 percent from Wednesday's close.