Wells Fargo downgraded Under Armour to Underperform with a price target of $13 while Susquehanna downgraded Nike to neutral with a target of $54 and Jeffries downgraded Nike to hold with a price target of $49, giving the industry’s stock performance another jolt. There have been multiple downgrades on the Eager Beavertons and Under Dog in the last week as investors assess the weakness in the basketball market and the difficulty that Under Dog has had regaining growth in the U.S., particularly in its sneaker business. Much was also made of the NPD note that Adidas passed Brand Jordan for ... Log in to view full article.