Under Armour Class A (UAA) stock surged 5.03% during intraday trading on Monday, driven by a wave of positive analyst sentiment and growing confidence in the company's turnaround strategy.

The rally followed several analyst actions, including UBS raising its price target to $11 from $8 while maintaining a Buy rating. Analysts noted that Under Armour's recent turnaround efforts are likely to lead to better trends in its North America business ahead. The company's Q3 results topped expectations, and its new product lineup appears to be driving wholesale partners to re-engage with the brand.

Additional bullish signals came from Barclays, which raised its target to $8 from $5, Truist increasing its target to $8 from $6, Baird lifting its target to $8 from $7, and Telsey Advisory boosting its target to $6 from $5. Analysts expressed encouragement about how the fall order book is shaping up and expect revenue growth to accelerate in the fourth quarter, with the North America business anticipated to inflect positively by 2027.