Under Armour Class A (UAA) shares plummeted 5.04% in Monday's intraday trading, following a significant price target cut by TD Cowen. The sportswear giant's stock took a hit as investors reacted to the lowered expectations from Wall Street analysts.

TD Cowen, a respected financial services firm, reduced its price target for Under Armour from $6 to $4, representing a substantial 33% decrease. This adjustment in valuation suggests that analysts at TD Cowen have become more pessimistic about Under Armour's near-term prospects and growth potential.

The sharp reduction in price target could signal concerns about Under Armour's competitive position in the athletic apparel market, potential challenges in its business model, or broader economic factors affecting the retail sector. Investors will likely be closely watching for any further analyst revisions or company announcements that might provide more context to this downgrade and its impact on Under Armour's future performance.