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Analyst Downgrades Under Armour Stock After Its CEO Praises Donald Trump

  • Move makes it hard to build ‘cool urban lifestyle,’ he says
  • Susquehanna also cites valuation, slowing growth for downgrade
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Under Armour Sinks After Dismal Forecast

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Under Armour Inc.’s chief executive officer made a mistake praising President Donald Trump, and the move could take a toll on the athletic brand’s reputation and stock price, according to a Susquehanna International Group analyst.

CEO Kevin Plank’s recent comment that Trump was a “real asset” to the country drew rebukes from Under Armour’s own celebrity endorsers, including NBA star Steph Curry. The controversy, along with broader concerns about Under Armour’s valuation and slowing growth, led Susquehanna’s Sam Poser to downgrade the stock to negative from neutral.