Canaccord Genuity analyst Camilo Lyon reiterated his BUY rating and raised his price target on Under Armour to $85 from $75 amid the company’s efforts to bolster its presence in retail channels through so-called shop in shops displays. Mr. Lyon said:

“Given Nike’s increasing focus on expanding its presence at retail through the build-out of shop-in-shops at Dick’s Sporting Goods, Foot Locker and Finish Line, Under Armour is rightly defending its turf by also rapidly rolling out its own shop-in-shop concepts at Dick’s and The Sports Authority.”

He added, “With 50 shop-in-shops in place now, we expect only a modest sales bump this year; however, we believe the more distinct sales lift will happen in 2012 and beyond as the company accelerates shop-in-shop openings.”