Deutsche Bank analyst Paul Trussell upgraded Under Armour (UAA) to Hold and raised his price target for the shares to $16 from $13. The stock closed Friday up 2c to $16.10.

Estimates for Q1 and fiscal 2018 earnings are attainable, reflecting improved sell-through of new products and a commitment to cost reduction, Trussell tells investors in a research note. The analyst believes Under Armour will outline a path to return to mid-to-high single-digit EBIT margins at its Fall investor day, supported by its "rapidly growing" international business.

Trussell's upside/downside share analysis is "relatively even" at current levels.