Under Armour's Stock Weakness After Results Is a Buying Opportunity--Sterne Agee

Despite the selloff in Under Armour's stock following first-quarter results, Sterne Agee analyst Sam Poser reassured investors that he sees no sign of weakness in the athletic apparel company's business. The stock dropped 3.1% in premarket trade Tuesday, after soaring 32% in the three months leading up to the company's results. "We would use any decline in the stock price as a buying opportunity," Poser wrote in a note to clients. He said sales would have increased 27.1%, rather than the 25.5% reported, if it wasn't for the negative effect of currency movements, and believes the West Coast port issues also weighed on sales and margins. While the company raised its 2015 sales growth outlook to 23% from 22%, he believes it can rise even further over time. "We expect as in recent years for guidance to continue to increase throughout the year," Poser wrote.